Cannell & Spears LLC Sells 3,362 Shares of Chubb Limited $CB

Cannell & Spears LLC decreased its position in Chubb Limited (NYSE:CB) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,782 shares of the financial services provider’s stock after selling 3,362 shares during the period. Chubb makes up 1.6% of Cannell & Spears LLC’s holdings, making the stock its 13th biggest holding. Cannell & Spears LLC owned about 0.08% of Chubb worth $84,896,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its position in shares of Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Chubb by 155.6% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. VSM Wealth Advisory LLC bought a new stake in shares of Chubb during the 2nd quarter valued at about $32,000. Cornerstone Planning Group LLC boosted its position in shares of Chubb by 81.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC acquired a new stake in Chubb during the third quarter worth approximately $34,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CB shares. Keefe, Bruyette & Woods boosted their price target on Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Citigroup raised their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Jefferies Financial Group lifted 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. Barclays boosted their target price on shares of Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Finally, Mizuho increased their target price on shares of Chubb from $317.00 to $336.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given 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 Activity at Chubb

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

Chubb Stock Down 0.1%

CB opened at $329.24 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company’s 50-day moving average is $319.55 and its 200 day moving average is $299.58. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The firm has a market capitalization of $128.45 billion, a P/E ratio of 12.80, a PEG ratio of 2.06 and a beta of 0.46.

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

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s payout ratio is presently 15.08%.

About Chubb

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.