Harrington Investments INC decreased its holdings in Chubb Limited (NYSE:CB) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,026 shares of the financial services provider’s stock after selling 1,225 shares during the quarter. Chubb accounts for approximately 1.3% of Harrington Investments INC’s holdings, making the stock its 27th largest position. Harrington Investments INC’s holdings in Chubb were worth $2,005,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Arlington Partners LLC bought a new position in Chubb during the 4th quarter valued at $27,000. FinTrust Capital Advisors LLC raised its position in Chubb by 95.3% in the second quarter. FinTrust Capital Advisors LLC now owns 332 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 162 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in Chubb in the third quarter worth about $54,000. Front Row Advisors LLC lifted its holdings in Chubb by 21.5% in the 3rd quarter. Front Row Advisors LLC now owns 384 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 68 shares during the last quarter. Finally, Field & Main Bank bought a new position in shares of Chubb during the 3rd quarter valued at about $59,000. 85.79% of the stock is currently owned by institutional investors.
In other Chubb news, EVP Sean Ringsted sold 11,478 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $148.09, for a total transaction of $1,699,777.02. Following the transaction, the executive vice president now directly owns 201,369 shares in the company, valued at $29,820,735.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO John W. Keogh sold 23,432 shares of the business’s stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $153.04, for a total value of $3,586,033.28. Following the completion of the sale, the chief operating officer now directly owns 220,587 shares of the company’s stock, valued at approximately $33,758,634.48. The disclosure for this sale can be found here. Insiders sold 185,683 shares of company stock worth $27,794,915 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.
Chubb (NYSE:CB) last issued its earnings results on Sunday, November 1st. The financial services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.19). Chubb had a net margin of 6.24% and a return on equity of 5.33%. The firm had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the firm earned $2.70 EPS. On average, sell-side analysts anticipate that Chubb Limited will post 7.03 EPS for the current year.
Chubb announced that its Board of Directors has initiated a share repurchase program on Thursday, November 19th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 8th. Investors of record on Friday, December 18th were issued a $0.78 dividend. The ex-dividend date was Thursday, December 17th. This represents a $3.12 dividend on an annualized basis and a yield of 1.99%. Chubb’s dividend payout ratio is currently 30.86%.
Several analysts recently commented on the stock. Raymond James raised shares of Chubb from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $150.00 to $180.00 in a research note on Tuesday, November 24th. JPMorgan Chase & Co. downgraded Chubb from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $152.00 to $155.00 in a research report on Monday, January 4th. Bank of America cut Chubb from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $132.00 to $138.00 in a report on Tuesday, December 22nd. The Goldman Sachs Group raised Chubb from a “buy” rating to a “conviction-buy” rating in a report on Friday, January 8th. Finally, MKM Partners lifted their price target on Chubb from $150.00 to $180.00 in a research note on Friday, November 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $155.63.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, casualty, workers' compensation, package policies, risk management, professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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