Shikiar Asset Management Inc. Has $3.29 Million Position in Chubb Limited $CB

Shikiar Asset Management Inc. lessened its stake in Chubb Limited (NYSE:CB) by 48.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,640 shares of the financial services provider’s stock after selling 10,751 shares during the period. Shikiar Asset Management Inc.’s holdings in Chubb were worth $3,285,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Chubb during the second quarter valued at $1,195,137,000. Bank of America Corp DE raised its holdings in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. London Co. of Virginia raised its holdings in Chubb by 211.0% during the 2nd quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after purchasing an additional 500,116 shares during the last quarter. Altrinsic Global Advisors LLC lifted its position in Chubb by 46.9% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after purchasing an additional 444,557 shares during the period. Finally, Troy Asset Management Ltd boosted its stake in shares of Chubb by 89.1% in the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after purchasing an additional 373,872 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

CB opened at $310.93 on Tuesday. The stock has a market cap of $122.37 billion, a P/E ratio of 12.98, a P/E/G ratio of 3.55 and a beta of 0.51. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $313.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $291.40 and a 200 day simple moving average of $282.83.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The firm had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same period in the previous year, the company posted $5.72 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s dividend payout ratio is presently 16.19%.

Insiders Place Their Bets

In other news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John J. Lupica sold 16,375 shares of Chubb stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares in the company, valued at $22,004,001.25. This trade represents a 18.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 57,333 shares of company stock worth $16,629,873. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CB. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, October 22nd. HSBC lifted their target price on shares of Chubb from $302.00 to $304.00 in a report on Wednesday, October 29th. Wells Fargo & Company increased their price target on Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $309.00 price target on shares of Chubb in a research report on Monday, October 27th. Finally, UBS Group upped their price objective on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus target price of $311.90.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.