Ingalls & Snyder LLC Reduces Holdings in Chubb Limited (NYSE:CB)

Ingalls & Snyder LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,068 shares of the financial services provider’s stock after selling 703 shares during the quarter. Ingalls & Snyder LLC’s holdings in Chubb were worth $20,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Beacon Capital Management LLC raised its holdings in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Kozak & Associates Inc. bought a new stake in shares of Chubb in the third quarter valued at about $29,000. Chilton Capital Management LLC bought a new stake in shares of Chubb in the second quarter valued at about $26,000. Truvestments Capital LLC bought a new stake in shares of Chubb in the third quarter valued at about $30,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Chubb in the second quarter valued at about $32,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Shares of CB stock traded down $2.66 during trading hours on Tuesday, hitting $287.25. 116,843 shares of the company’s stock were exchanged, compared to its average volume of 1,592,540. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market cap of $115.79 billion, a P/E ratio of 11.87, a P/E/G ratio of 6.72 and a beta of 0.67. The firm has a 50 day moving average of $287.30 and a two-hundred day moving average of $275.81. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings data 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 return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the prior year, the company earned $4.95 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Chubb Limited will post 21.82 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio is currently 14.91%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CB. Keefe, Bruyette & Woods lifted their price objective on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI boosted their target price on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays initiated coverage on shares of Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Finally, Piper Sandler boosted their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $287.37.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction 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 $167,748,829.50. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 6,599 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $287.06, for a total value of $1,894,308.94. Following the transaction, the executive vice president now owns 84,101 shares of the company’s stock, valued at $24,142,033.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,454 shares of company stock valued at $19,446,155. 0.86% of the stock is owned by insiders.

Chubb Company 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.