Howland Capital Management LLC Sells 1,718 Shares of Chubb Limited $CB

Howland Capital Management LLC lowered its stake in Chubb Limited (NYSE:CB) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 92,373 shares of the financial services provider’s stock after selling 1,718 shares during the quarter. Chubb comprises 1.1% of Howland Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Howland Capital Management LLC’s holdings in Chubb were worth $30,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CB. Janney Montgomery Scott LLC grew its position in shares of Chubb by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares during the period. Equitable Holdings Inc. acquired a new position in shares of Chubb during the 2nd quarter worth about $4,139,000. Berkshire Hathaway Inc acquired a new position in shares of Chubb during the 2nd quarter worth about $11,670,067,000. XXEC Inc. acquired a new position in shares of Chubb during the 2nd quarter worth about $26,210,000. Finally, Douglas Lane & Associates LLC lifted its stake in Chubb by 2,748.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock valued at $152,084,000 after buying an additional 451,173 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In related news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CB has been the topic of several research analyst reports. HSBC reiterated a “hold” rating and issued a $359.00 price objective on shares of Chubb in a report on Wednesday, October 7th. JPMorgan Chase & Co. reduced their target price on Chubb from $374.00 to $371.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. Finally, The Goldman Sachs Group boosted their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $360.95.

More Chubb News

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Third-quarter earnings beat expectations. Chubb reported $7.66 in earnings per share versus the $6.77 consensus estimate, while revenue of $16.20 billion exceeded forecasts of $15.71 billion. Record investment income and higher life-insurance income helped offset rising catastrophe losses. Chubb Q3 Earnings Beat Estimates on Investment and Life Income Growth
• Positive Sentiment: Underlying operating performance remained strong. Core operating income reached $2.98 billion, and Overseas General property and casualty premiums grew 6.7%, supporting the view that Chubb continues to generate solid underwriting and premium growth. Chubb: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Analyst sentiment improved modestly. Wells Fargo raised its price target to $366 from $343, and Zacks upgraded Chubb to a Rank #2, or Buy, reflecting greater confidence in the company’s earnings outlook. Wells Fargo Adjusts Chubb Price Target
• Neutral Sentiment: Other analysts raised targets but maintained cautious ratings. Deutsche Bank lifted its target to $361 from $354 while retaining a Hold rating, and Mizuho raised its target to $350 while keeping a Neutral rating. Deutsche Bank Adjusts Chubb Price Target
• Negative Sentiment: Valuation and limited upside remain concerns. Chubb’s consensus price target is $358.36, below the current trading level, while Cantor Fitzgerald maintains a $333 target and Barclays retains a Hold rating. Commentary also suggests the strong third-quarter results may already be reflected in the share price. Chubb Consensus Price Target

Chubb Stock Up 2.5%

Shares of NYSE:CB opened at $363.93 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $341.45 and a two-hundred day moving average of $337.32. The stock has a market cap of $140.40 billion, a P/E ratio of 12.73, a PEG ratio of 1.55 and a beta of 0.36. Chubb Limited has a 52-week low of $273.35 and a 52-week high of $365.91.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping the consensus estimate of $6.77 by $0.89. Chubb had a return on equity of 14.41% and a net margin of 18.15%. The business had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.71 billion. During the same quarter in the previous year, the firm earned $7.49 EPS. On average, research analysts expect that Chubb Limited will post 27.72 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.