Capital International Investors Sells 2,753,299 Shares of Chubb Limited $CB

Capital International Investors reduced its holdings in shares of Chubb Limited (NYSE:CB) by 44.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,435,863 shares of the financial services provider’s stock after selling 2,753,299 shares during the quarter. Capital International Investors’ holdings in Chubb were worth $969,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CB. Harbor Capital Advisors Inc. increased its holdings in shares of Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in shares of Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after buying an additional 56 shares during the period. VSM Wealth Advisory LLC acquired a new position in Chubb in the 2nd quarter valued at about $32,000. Cornerstone Planning Group LLC grew its stake in Chubb by 81.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after buying an additional 53 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new position in Chubb in the 3rd quarter valued at about $34,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. Roth Mkm raised their price objective on shares of Chubb from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Citizens Jmp reiterated a “market outperform” rating and set a $350.00 target price on shares of Chubb in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price target on Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Raymond James Financial boosted their price target on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research note on Monday, February 9th. Finally, Bank of America decreased their price objective on Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus target price of $340.81.

Chubb Stock Performance

Shares of NYSE:CB opened at $323.95 on Tuesday. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The company’s 50 day moving average price is $318.39 and its two-hundred day moving average price is $298.28. The firm has a market cap of $126.39 billion, a PE ratio of 12.59, a PEG ratio of 2.06 and a beta of 0.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $6.02 earnings per share. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is currently 15.08%.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.86% of the company’s stock.

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.