Healthcare of Ontario Pension Plan Trust Fund Sells 227,300 Shares of Chubb Limited (NYSE:CB)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Chubb Limited (NYSE:CB) by 49.1% in the third quarter, Holdings Channel reports. The institutional investor owned 236,000 shares of the financial services provider’s stock after selling 227,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Chubb were worth $68,060,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in Chubb during the 1st quarter valued at approximately $25,000. Beacon Capital Management LLC increased its position in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Chilton Capital Management LLC acquired a new stake in Chubb during the 2nd quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in Chubb during the 2nd quarter valued at approximately $28,000. Finally, Kozak & Associates Inc. acquired a new stake in Chubb during the 3rd quarter valued at approximately $29,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CB shares. Wells Fargo & Company increased their target price on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler raised their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. JMP Securities raised their price objective on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price objective on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $287.37.

Insider Buying and Selling at Chubb

In other Chubb 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 transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,715 shares of company stock worth $23,803,540. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of CB opened at $288.51 on Wednesday. Chubb Limited has a 12-month low of $216.90 and a 12-month high of $302.05. The business’s fifty day moving average is $287.32 and its 200 day moving average is $275.05. 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 stock has a market cap of $116.30 billion, a P/E ratio of 11.81, a P/E/G ratio of 6.68 and a beta of 0.67.

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

Chubb Dividend Announcement

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. This represents a $3.64 annualized dividend and a yield of 1.26%. The ex-dividend date 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.