Cannell & Spears LLC Reduces Stock Position in Chubb Limited (NYSE:CB)

Cannell & Spears LLC lowered its position in shares of Chubb Limited (NYSE:CB) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 311,060 shares of the financial services provider’s stock after selling 30,100 shares during the quarter. Chubb accounts for approximately 1.8% of Cannell & Spears LLC’s investment portfolio, making the stock its 9th largest position. Cannell & Spears LLC’s holdings in Chubb were worth $85,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. acquired a new stake in shares of Chubb during the 4th quarter valued at $1,158,897,000. GQG Partners LLC boosted its stake in shares of Chubb by 36.3% during the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after acquiring an additional 1,178,628 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of Chubb by 1,007,698.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after acquiring an additional 1,007,698 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Chubb by 41,494.7% during the fourth quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock worth $224,566,000 after purchasing an additional 810,807 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares in the company, valued at approximately $170,321,922.75. The trade was a 4.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the transaction, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock valued at $18,562,730 over the last quarter. Insiders own 0.86% of the company’s stock.

Chubb Trading Down 0.7 %

Shares of NYSE CB opened at $296.36 on Monday. The business has a 50 day simple moving average of $279.26 and a 200 day simple moving average of $281.41. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05. The stock has a market cap of $118.67 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping 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%. On average, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.23%. Chubb’s dividend payout ratio (DPR) is currently 16.02%.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Chubb in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and a consensus 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.