Harbour Investments Inc. Cuts Stock Position in Chubb Limited (NYSE:CB)

Harbour Investments Inc. cut its holdings in shares of Chubb Limited (NYSE:CB) by 15.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,756 shares of the financial services provider’s stock after selling 327 shares during the quarter. Harbour Investments Inc.’s holdings in Chubb were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CB shares. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods raised 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. Barclays cut their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus target price of $301.00.

Chubb Trading Down 0.7 %

NYSE:CB opened at $294.09 on Friday. The company has a fifty day moving average of $275.90 and a 200 day moving average of $281.25. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05. The firm has a market capitalization of $117.76 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.36 and a beta of 0.66. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21.

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

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.24%. Chubb’s dividend payout ratio is presently 16.02%.

Insider Activity at Chubb

In other news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,239 shares of company stock worth $14,956,786 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

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.