Gotham Asset Management LLC Sells 1,924 Shares of Chubb Limited $CB

Gotham Asset Management LLC reduced its position in Chubb Limited (NYSE:CB) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,065 shares of the financial services provider’s stock after selling 1,924 shares during the period. Gotham Asset Management LLC’s holdings in Chubb were worth $14,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Peoples Bank KS bought a new position in shares of Chubb in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb during the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. bought a new position in Chubb in the first quarter worth approximately $31,000. Finally, 1248 Management LLC purchased a new position in shares of Chubb during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective for the company. in a research note on Tuesday, May 20th. Evercore ISI set a $312.00 price target on Chubb in a research report on Wednesday, July 23rd. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research note on Wednesday, August 13th. Citigroup initiated coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 target price on the stock. Finally, Hsbc Global Res lowered shares of Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $302.00.

Insider Activity

In related news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

NYSE CB opened at $277.32 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The business has a 50 day simple moving average of $274.97 and a two-hundred day simple moving average of $283.05. The stock has a market capitalization of $110.56 billion, a PE ratio of 12.23, a P/E/G ratio of 3.16 and a beta of 0.56.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the company earned $5.38 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.