Van Cleef Asset Management Inc Lowers Stake in Chubb Limited $CB

Van Cleef Asset Management Inc lowered its holdings in shares of Chubb Limited (NYSE:CB) by 1.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 24,030 shares of the financial services provider’s stock after selling 235 shares during the period. Chubb accounts for approximately 0.7% of Van Cleef Asset Management Inc’s portfolio, making the stock its 24th biggest holding. Van Cleef Asset Management Inc’s holdings in Chubb were worth $6,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $31,000. 1248 Management LLC bought a new position in Chubb during the 1st quarter valued at approximately $31,000. WPG Advisers LLC purchased a new position in Chubb during the first quarter valued at $33,000. Maseco LLP purchased a new position in Chubb during the second quarter valued at $35,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Chubb by 391.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

CB opened at $287.45 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.27. The stock has a market capitalization of $113.13 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.74 and a beta of 0.58. The company’s 50-day simple moving average is $278.79 and its two-hundred day simple moving average is $280.64. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $14.87 billion during the quarter, compared to analyst estimates of $12.95 billion. During the same period in the previous year, the business posted $5.72 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s payout ratio is 16.19%.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 23,698 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the transaction, the insider directly owned 90,600 shares of the company’s stock, valued at $25,458,600. This represents a 20.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group raised their price target on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Piper Sandler reiterated a “neutral” rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Jefferies Financial Group raised their price target on shares of Chubb from $297.00 to $302.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb has a consensus rating of “Hold” and a consensus price target of $307.79.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.