MetLife Investment Management LLC Sells 10,094 Shares of Chubb Limited (NYSE:CB)

MetLife Investment Management LLC reduced its position in shares of Chubb Limited (NYSE:CB) by 9.3% in the third quarter, Holdings Channel reports. The firm owned 98,191 shares of the financial services provider’s stock after selling 10,094 shares during the quarter. MetLife Investment Management LLC’s holdings in Chubb were worth $28,317,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CB. Wellington Shields & Co. LLC bought a new position in Chubb in the 1st quarter valued at approximately $94,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Chubb by 2.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,873 shares of the financial services provider’s stock valued at $2,818,000 after buying an additional 297 shares during the last quarter. Tidal Investments LLC increased its holdings in Chubb by 6.0% in the 1st quarter. Tidal Investments LLC now owns 13,650 shares of the financial services provider’s stock worth $3,534,000 after buying an additional 773 shares in the last quarter. Hancock Whitney Corp raised its position in Chubb by 2.5% in the 1st quarter. Hancock Whitney Corp now owns 4,374 shares of the financial services provider’s stock worth $1,133,000 after buying an additional 107 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new position in Chubb during the 1st quarter valued at about $133,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This represents a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now directly owns 39,172 shares in the company, valued at $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. Over the last ninety days, insiders sold 82,715 shares of company stock valued at $23,803,540. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays initiated coverage on shares of Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective for the company. Morgan Stanley boosted their target price on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased 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. Two investment 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’s stock. According to MarketBeat, Chubb presently has an average rating of “Hold” and an average price target of $287.37.

Chubb Price Performance

NYSE:CB traded up $1.55 on Wednesday, reaching $290.03. 31,247 shares of the company’s stock traded hands, compared to its average volume of 1,597,345. The stock has a 50-day simple moving average of $287.32 and a 200-day simple moving average of $275.05. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The firm has a market cap of $116.91 billion, a PE ratio of 11.81, a P/E/G ratio of 6.68 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

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, 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 company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter last year, the company earned $4.95 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s dividend payout ratio is 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.