Park Avenue Securities LLC Sells 3,738 Shares of Chubb Limited $CB

Park Avenue Securities LLC decreased its holdings in Chubb Limited (NYSE:CB) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,538 shares of the financial services provider’s stock after selling 3,738 shares during the quarter. Park Avenue Securities LLC’s holdings in Chubb were worth $6,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its position in shares of Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after buying an additional 44 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in Chubb during the 2nd quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Chubb during the 3rd quarter valued at approximately $34,000. Maseco LLP bought a new position in Chubb during the 2nd quarter worth approximately $35,000. Finally, Financial Consulate Inc. acquired a new position in shares of Chubb in the 3rd quarter worth approximately $37,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

CB stock opened at $306.71 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The business has a 50-day simple moving average of $300.09 and a two-hundred day simple moving average of $285.03. The company has a market capitalization of $120.70 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 3.23 and a beta of 0.51. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $316.94.

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, beating analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $5.72 earnings per share. Research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s payout ratio is currently 16.19%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wolfe Research boosted their price objective on Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Wells Fargo & Company upped their price objective on shares of Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Bank of America increased their price target on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday, October 13th. Finally, Citigroup boosted their price objective on Chubb from $331.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $316.55.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 16,375 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 74,225 shares in the company, valued at approximately $22,004,001.25. The trade was a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 850 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $295.19, for a total transaction of $250,911.50. Following the completion of the sale, the executive vice president directly owned 1,585 shares of the company’s stock, valued at $467,876.15. The trade was a 34.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,333 shares of company stock worth $16,629,873 in the last quarter. 0.77% of the stock is currently owned by corporate insiders.

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.