Summitry LLC Sells 140 Shares of Chubb Limited (NYSE:CB)

Summitry LLC cut its stake in Chubb Limited (NYSE:CB) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,920 shares of the financial services provider’s stock after selling 140 shares during the period. Summitry LLC’s holdings in Chubb were worth $1,359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Continuum Advisory LLC grew its position in Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after buying an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Chubb during the third quarter valued at approximately $29,000. Raelipskie Partnership acquired a new position in shares of Chubb in the third quarter valued at $29,000. Sierra Ocean LLC bought a new position in Chubb in the fourth quarter worth $29,000. Finally, Crowley Wealth Management Inc. acquired a new stake in Chubb during the fourth quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

CB opened at $291.44 on Wednesday. Chubb Limited has a fifty-two week low of $238.85 and a fifty-two week high of $302.05. The company has a market cap of $116.70 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $277.68 and a 200 day simple moving average of $281.25.

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

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.25%. Chubb’s payout ratio is currently 16.02%.

Analysts Set New Price Targets

CB has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays decreased their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $301.00.

Insider Activity

In related news, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction 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 $170,321,922.75. This represents a 4.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the transaction, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock valued at $18,562,730 in the last ninety days. 0.86% of the stock is owned by insiders.

About Chubb

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.