Investment Management Corp of Ontario Sells 245 Shares of Chubb Limited (NYSE:CB)

Investment Management Corp of Ontario lowered its stake in shares of Chubb Limited (NYSE:CB) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,584 shares of the financial services provider’s stock after selling 245 shares during the quarter. Investment Management Corp of Ontario’s holdings in Chubb were worth $3,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in shares of Chubb during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Chubb in the fourth quarter worth $29,000. Strategic Financial Concepts LLC bought a new stake in Chubb in the fourth quarter worth $30,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Human Investing LLC bought a new stake in Chubb in the fourth quarter worth $36,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of several research reports. Jefferies Financial Group boosted their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods reduced their price target on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Barclays reduced their price target on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb has an average rating of “Moderate Buy” and a consensus target price of $307.86.

Chubb Stock Up 0.3%

Shares of CB opened at $289.92 on Monday. The firm has a market capitalization of $116.18 billion, a P/E ratio of 12.76, a P/E/G ratio of 3.36 and a beta of 0.57. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $288.46 and a 200-day moving average price of $280.58.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.91 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s payout ratio is currently 17.52%.

Insider Activity at Chubb

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the transaction, the chief executive officer now owns 584,395 shares of the company’s stock, valued at $170,321,922.75. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 over the last three months. 0.77% of the stock is owned by corporate insiders.

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.