Granite Investment Partners LLC Trims Stock Position in Chubb Limited $CB

Granite Investment Partners LLC lessened its position in shares of Chubb Limited (NYSE:CB) by 91.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,190 shares of the financial services provider’s stock after selling 34,406 shares during the period. Granite Investment Partners LLC’s holdings in Chubb were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Westbourne Investment Advisors Inc. raised its stake in Chubb by 12.3% in the third quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock valued at $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Chubb by 14.1% in the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock worth $20,655,000 after buying an additional 8,828 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Chubb by 166.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 2,315 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Chubb during the 3rd quarter worth $3,123,000. Finally, Liberty One Investment Management LLC purchased a new position in Chubb in the third quarter worth $51,167,000. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

NYSE:CB opened at $333.27 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $335.60. The firm has a market cap of $131.16 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.49. The business has a 50 day moving average price of $313.88 and a 200-day moving average price of $294.01.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $6.02 earnings per share. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CB. Keefe, Bruyette & Woods lifted their price target on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Citigroup raised their price objective on Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a report on Monday, February 9th. UBS Group reaffirmed a “neutral” rating and issued a $340.00 target price on shares of Chubb in a research note on Monday, February 9th. Evercore lifted their price target on shares of Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group upped their price objective on shares of Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $340.81.

Insider Transactions at Chubb

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by insiders.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.