Chubb Limited (NYSE:CB) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its holdings in Chubb Limited (NYSE:CB) by 3.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 790,951 shares of the financial services provider’s stock after selling 29,423 shares during the period. Chubb accounts for approximately 2.5% of Cullen Capital Management LLC’s holdings, making the stock its 9th largest position. Cullen Capital Management LLC’s holdings in Chubb were worth $218,540,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. KCM Investment Advisors LLC increased its stake in shares of Chubb by 1.8% in the fourth quarter. KCM Investment Advisors LLC now owns 16,627 shares of the financial services provider’s stock valued at $4,594,000 after buying an additional 299 shares during the period. Unison Advisors LLC boosted its holdings in Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after acquiring an additional 41 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Chubb by 15.3% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 527 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 70 shares during the period. Climber Capital SA acquired a new stake in Chubb during the 4th quarter valued at approximately $232,000. Finally, Pitcairn Co. raised its holdings in Chubb by 8.6% during the 4th quarter. Pitcairn Co. now owns 5,930 shares of the financial services provider’s stock worth $1,638,000 after purchasing an additional 472 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the transaction, the executive vice president now directly owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. The trade was a 13.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,470 shares of company stock valued at $18,562,730. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CB shares. Wells Fargo & Company decreased their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Barclays dropped their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $303.14.

Chubb Stock Down 7.2 %

CB stock opened at $280.74 on Friday. The firm has a market capitalization of $112.41 billion, a PE ratio of 12.36, a P/E/G ratio of 3.36 and a beta of 0.66. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $306.91. The stock’s 50 day moving average is $282.25 and its 200-day moving average is $281.81.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, March 14th. Chubb’s dividend payout ratio (DPR) is presently 16.02%.

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.