Douglas Lane & Associates LLC Has $5.67 Million Stock Position in Chubb Limited (NYSE:CB)

Douglas Lane & Associates LLC cut its position in Chubb Limited (NYSE:CB) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,535 shares of the financial services provider’s stock after selling 1,431 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Chubb were worth $5,674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Continuum Advisory LLC grew its stake in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 35 shares during the period. Kozak & Associates Inc. bought a new position in shares of Chubb in the 3rd quarter worth $29,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Chubb in the 3rd quarter valued at $29,000. Raelipskie Partnership bought a new stake in Chubb during the 3rd quarter valued at $29,000. Finally, Truvestments Capital LLC acquired a new position in Chubb during the third quarter worth $30,000. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Chubb stock opened at $266.51 on Thursday. The business’s 50 day simple moving average is $279.69 and its 200 day simple moving average is $278.00. Chubb Limited has a 12 month low of $222.85 and a 12 month high of $302.05. The company has a market cap of $107.43 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 6.43 and a beta of 0.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same quarter in the prior year, the firm earned $4.95 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Chubb Limited will post 21.82 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.37%. Chubb’s dividend payout ratio is presently 14.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CB shares. Wells Fargo & Company lifted their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Bank of America increased their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their target price on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods increased their price target on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $286.16.

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.