Martingale Asset Management L P Cuts Position in Chubb Limited (NYSE:CB)

Martingale Asset Management L P lessened its holdings in Chubb Limited (NYSE:CB) by 33.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CB. Pathway Financial Advisers LLC purchased a new stake in shares of Chubb during the first quarter valued at approximately $25,000. Beacon Capital Management LLC grew its holdings in shares of Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $28,000. Finally, Kozak & Associates Inc. purchased a new stake in shares of Chubb during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CB shares. JMP Securities increased their price objective on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America increased their price objective on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays began coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $287.37.

Insider Activity

In other Chubb news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,715 shares of company stock valued at $23,803,540 in the last ninety days. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

CB opened at $290.34 on Friday. The stock has a market capitalization of $117.04 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 6.68 and a beta of 0.67. The company has a fifty day moving average of $287.34 and a 200 day moving average of $275.26. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share 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 company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period last year, the company posted $4.95 earnings per share. Chubb’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.25%. Chubb’s payout ratio is currently 14.91%.

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.