Lazard Asset Management LLC Trims Stake in Chubb Limited (NYSE:CB)

Lazard Asset Management LLC trimmed its position in Chubb Limited (NYSE:CB) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,548,826 shares of the financial services provider’s stock after selling 197,461 shares during the period. Lazard Asset Management LLC owned 0.38% of Chubb worth $427,939,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank raised its holdings in Chubb by 6.2% in the fourth quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock worth $22,458,000 after buying an additional 4,757 shares during the last quarter. Barclays PLC lifted its position in Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after acquiring an additional 388,746 shares in the last quarter. California Public Employees Retirement System boosted its stake in Chubb by 1.1% during the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock valued at $373,110,000 after purchasing an additional 14,610 shares during the last quarter. Canopy Partners LLC increased its holdings in shares of Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 2,340 shares in the last quarter. Finally, Vista Investment Partners II LLC purchased a new stake in shares of Chubb during the fourth quarter valued at $2,442,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CB shares. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of Chubb in a research report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Barclays cut their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Raymond James reissued a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their target price on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.86.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. The trade was a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company’s stock, 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 valued at $18,562,730. Company insiders own 0.77% of the company’s stock.

Chubb Stock Up 0.3%

Shares of CB opened at $289.92 on Monday. The firm has a fifty day moving average price of $288.46 and a 200-day moving average price of $280.58. 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 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.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Equities research analysts expect 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 was paid on Friday, April 4th. Shareholders 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 1.26%. The ex-dividend date was Friday, March 14th. Chubb’s payout ratio is 17.52%.

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.