Chubb Limited (NYSE:CB) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Chubb Limited (NYSE:CB) by 4.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 77,883 shares of the financial services provider’s stock after selling 4,048 shares during the period. Amalgamated Bank’s holdings in Chubb were worth $22,461,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CB. Pathway Financial Advisers LLC purchased a new stake in Chubb during the first quarter worth approximately $25,000. Beacon Capital Management LLC lifted its stake in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in Chubb in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in Chubb in the second quarter valued at approximately $28,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in Chubb in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $276.08 on Tuesday. The business’s 50-day moving average price is $288.24 and its 200 day moving average price is $271.22. Chubb Limited has a twelve month low of $216.26 and a twelve month high of $302.05. The company has a market capitalization of $111.29 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 6.52 and a beta of 0.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.95 earnings per share. On average, research analysts predict that Chubb Limited will post 21.6 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.32%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CB. Morgan Stanley boosted their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Barclays began coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Jefferies Financial Group boosted their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI boosted 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. Finally, JMP Securities boosted their target price on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $287.26.

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.