Lansing Street Advisors Invests $323,000 in Chubb Limited (NYSE:CB)

Lansing Street Advisors purchased a new stake in Chubb Limited (NYSE:CB) during the third quarter, Holdings Channel reports. The firm purchased 1,120 shares of the financial services provider’s stock, valued at approximately $323,000.

Several other hedge funds have also recently bought and sold shares of CB. Capital Research Global Investors grew its holdings in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Chubb by 28,885.3% in the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after buying an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Chubb by 4,559.3% during the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Capital World Investors increased its holdings in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CB. Royal Bank of Canada lifted their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday. Evercore ISI raised their price target on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities upped their price objective on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America boosted their target price on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $287.26.

Chubb Stock Performance

Shares of NYSE CB opened at $277.41 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.31. The firm has a market cap of $111.82 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 6.64 and a beta of 0.67. The stock’s fifty day moving average price is $288.23 and its two-hundred day moving average price is $271.01. Chubb Limited has a one year low of $215.54 and a one year high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the prior year, the company posted $4.95 earnings per share. Chubb’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Chubb Limited will post 21.6 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were given 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 1.31%. Chubb’s payout ratio is 14.91%.

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock valued at $24,874,208 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

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.