Brown Brothers Harriman & Co. Sells 3,381 Shares of Chubb Limited (NYSE:CB)

Brown Brothers Harriman & Co. cut its stake in Chubb Limited (NYSE:CB) by 22.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,841 shares of the financial services provider’s stock after selling 3,381 shares during the period. Brown Brothers Harriman & Co.’s holdings in Chubb were worth $3,272,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Continuum Advisory LLC increased its holdings in shares of Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in Chubb during the 3rd quarter worth approximately $29,000. Raelipskie Partnership acquired a new stake in Chubb during the 3rd quarter worth approximately $29,000. Sierra Ocean LLC bought a new position in Chubb in the fourth quarter valued at approximately $29,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Chubb during the fourth quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB opened at $296.36 on Friday. The company has a market cap of $118.67 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The firm has a 50-day moving average of $279.26 and a 200-day moving average of $281.43. Chubb Limited has a one year low of $238.85 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s payout ratio is presently 16.02%.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares in the company, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,470 shares of company stock worth $18,562,730. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CB shares. Wells Fargo & Company cut their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $301.00.

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.