Cannell & Co. Sells 295 Shares of Chubb Limited (NYSE:CB)

Cannell & Co. trimmed its stake in Chubb Limited (NYSE:CB) by 0.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 132,873 shares of the financial services provider’s stock after selling 295 shares during the period. Cannell & Co.’s holdings in Chubb were worth $30,029,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. ZRC Wealth Management LLC acquired a new stake in Chubb during the 4th quarter worth about $29,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Chubb during the 4th quarter worth approximately $32,000. Naples Money Management LLC acquired a new stake in Chubb during the 4th quarter worth approximately $34,000. Bell Investment Advisors Inc lifted its position in shares of Chubb by 39.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 208 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 59 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in shares of Chubb by 87.0% during the fourth quarter. Addison Advisors LLC now owns 215 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 100 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB stock traded up $1.57 during trading hours on Wednesday, hitting $250.21. 353,022 shares of the company’s stock were exchanged, compared to its average volume of 1,738,850. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $260.58. The firm has a 50 day moving average of $252.26 and a two-hundred day moving average of $236.43. The firm has a market cap of $101.60 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.18 and a beta of 0.62.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the company earned $4.41 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Chubb Limited will post 21.18 EPS for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.86 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.37%. Chubb’s dividend payout ratio (DPR) is presently 15.27%.

Insider Transactions at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the sale, the executive vice president now directly owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,043 shares of company stock worth $29,766,694. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CB. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $275.00 to $297.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Citigroup reaffirmed a “neutral” rating and issued a $275.00 price objective (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. Piper Sandler reissued an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. BMO Capital Markets upped their price objective on shares of Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research note on Monday, February 5th. Finally, StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and an average target price of $266.89.

Chubb Company 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.