Cooke & Bieler LP Sells 52,400 Shares of Chubb Limited $CB

Cooke & Bieler LP cut its holdings in shares of Chubb Limited (NYSE:CB) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 499,774 shares of the financial services provider’s stock after selling 52,400 shares during the period. Chubb makes up 1.4% of Cooke & Bieler LP’s portfolio, making the stock its 26th biggest position. Cooke & Bieler LP owned about 0.13% of Chubb worth $144,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new position in shares of Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the first quarter worth approximately $31,000. 1248 Management LLC purchased a new position in shares of Chubb in the first quarter worth approximately $31,000. WPG Advisers LLC purchased a new position in shares of Chubb in the first quarter worth approximately $33,000. Finally, Maseco LLP purchased a new position in shares of Chubb in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a research report on Wednesday, October 8th. BMO Capital Markets reiterated a “market perform” rating and set a $283.00 target price on shares of Chubb in a research report on Thursday, October 23rd. Finally, UBS Group lifted their price objective on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $307.79.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 23,698 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider owned 90,600 shares of the company’s stock, valued at $25,458,600. This trade represents a 20.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by insiders.

Chubb Stock Down 0.3%

Shares of CB opened at $277.13 on Friday. The stock has a market capitalization of $109.07 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The business’s 50 day simple moving average is $277.80 and its 200-day simple moving average is $280.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the prior year, the company earned $5.72 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a $0.97 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

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.