Martingale Asset Management L P Decreases Stock Holdings in Chubb Limited (NYSE:CB)

Martingale Asset Management L P lowered its stake in shares of Chubb Limited (NYSE:CB) by 33.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 86,221 shares of the financial services provider’s stock after selling 42,862 shares during the quarter. Martingale Asset Management L P’s holdings in Chubb were worth $24,865,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in Chubb by 0.5% during the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 40 shares during the last quarter. LVW Advisors LLC lifted its stake in Chubb by 0.3% in the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $3,390,000 after buying an additional 40 shares during the last quarter. Wealth Effects LLC lifted its stake in Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after buying an additional 40 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Chubb by 1.1% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CB shares. Barclays started coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Morgan Stanley boosted their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler boosted their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Evercore ISI boosted their target price on Chubb from $289.00 to $293.00 and gave the company an “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 company an “underperform” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $287.37.

Insider Activity

In other news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb 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 owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is owned by company insiders.

Chubb Trading Up 0.6 %

NYSE:CB opened at $290.34 on Friday. 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 business’s 50 day moving average is $287.34 and its two-hundred day moving average is $275.26. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05. The company has a market cap of $117.04 billion, a PE ratio of 11.89, a P/E/G ratio of 6.68 and a beta of 0.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. Chubb’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.95 EPS. On average, analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

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.