Ritholtz Wealth Management Cuts Stock Position in Chubb Limited (NYSE:CB)

Ritholtz Wealth Management cut its holdings in Chubb Limited (NYSE:CB) by 5.5% in the third quarter, HoldingsChannel reports. The firm owned 7,129 shares of the financial services provider’s stock after selling 416 shares during the quarter. Ritholtz Wealth Management’s holdings in Chubb were worth $2,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Chicago Partners Investment Group LLC boosted its stake in Chubb by 3.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,557 shares of the financial services provider’s stock worth $376,000 after buying an additional 49 shares during the period. Syon Capital LLC lifted its position in shares of Chubb by 6.3% during the fourth quarter. Syon Capital LLC now owns 3,034 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 179 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of Chubb during the fourth quarter worth $34,000. Richardson Financial Services Inc. bought a new stake in shares of Chubb during the fourth quarter worth $87,000. Finally, Twin Focus Capital Partners LLC bought a new stake in shares of Chubb during the fourth quarter worth $230,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB opened at $286.83 on Monday. The company has a market cap of $116.47 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. Chubb Limited has a twelve month low of $205.64 and a twelve month high of $294.18. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $282.13 and a two-hundred day moving average of $266.78.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $4.92 earnings per share. As a group, analysts predict that Chubb Limited will post 21.32 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.27%. Chubb’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CB shares. Bank of America lifted their target price on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average target price of $282.37.

Chubb 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.