Park Avenue Securities LLC Lowers Stock Position in Chubb Limited (NYSE:CB)

Park Avenue Securities LLC lessened its holdings in Chubb Limited (NYSE:CB) by 9.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,605 shares of the financial services provider’s stock after selling 1,258 shares during the period. Park Avenue Securities LLC’s holdings in Chubb were worth $3,266,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CB. Rossmore Private Capital lifted its position in Chubb by 1.6% during the fourth quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 41 shares during the last quarter. MCF Advisors LLC lifted its position in Chubb by 4.2% during the fourth quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 42 shares during the last quarter. Angeles Investment Advisors LLC lifted its position in Chubb by 2.1% during the fourth quarter. Angeles Investment Advisors LLC now owns 2,027 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 42 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Chubb by 5.2% during the 4th quarter. AdvisorNet Financial Inc now owns 886 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 44 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in Chubb by 0.9% during the 4th quarter. Valley National Advisers Inc. now owns 5,113 shares of the financial services provider’s stock valued at $1,155,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CB. StockNews.com lowered shares of Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Roth Mkm reissued a “buy” rating and issued a $280.00 price target on shares of Chubb in a research note on Wednesday, April 24th. Morgan Stanley lifted their target price on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reduced their target price on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada reduced their target price on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.70.

Insider Buying and Selling at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the sale, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,352 shares of company stock valued at $9,968,293. 0.86% of the stock is owned by company insiders.

Chubb Stock Down 0.7 %

Shares of NYSE:CB opened at $264.60 on Friday. The company has a market capitalization of $107.44 billion, a PE ratio of 11.74, a P/E/G ratio of 6.38 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $183.71 and a twelve month high of $275.41. The firm has a 50 day simple moving average of $257.74 and a 200-day simple moving average of $247.20.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the previous year, the firm earned $4.41 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Chubb Limited will post 21.19 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a $0.91 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 14th. Chubb’s payout ratio is currently 16.16%.

Chubb Profile

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.