Cannell & Spears LLC Sells 30,100 Shares of Chubb Limited (NYSE:CB)

Cannell & Spears LLC lowered its holdings in Chubb Limited (NYSE:CB) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,060 shares of the financial services provider’s stock after selling 30,100 shares during the period. Chubb makes up 1.8% of Cannell & Spears LLC’s portfolio, making the stock its 9th biggest position. Cannell & Spears LLC owned about 0.08% of Chubb worth $85,946,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Chubb by 57.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider’s stock valued at $102,840,000 after purchasing an additional 130,629 shares in the last quarter. Czech National Bank grew its stake in shares of Chubb by 6.2% in the fourth quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock valued at $22,458,000 after buying an additional 4,757 shares in the last quarter. Barclays PLC lifted its position in Chubb by 28.1% during the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after acquiring an additional 388,746 shares in the last quarter. Weiss Asset Management LP purchased a new position in Chubb in the 3rd quarter worth approximately $27,424,000. Finally, Versant Capital Management Inc grew its position in Chubb by 133.9% in the fourth quarter. Versant Capital Management Inc now owns 552 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays decreased their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $301.00.

Chubb Trading Down 0.7 %

NYSE CB opened at $296.36 on Monday. The firm has a market capitalization of $118.67 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a one year low of $238.85 and a one year high of $302.05. The company has a 50-day simple moving average of $279.26 and a 200-day simple moving average of $281.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s payout ratio is 16.02%.

Insider Activity

In other news, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. This represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by company 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.