Abner Herrman & Brock LLC trimmed its position in shares of Chubb Ltd (NYSE:CB) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,490 shares of the financial services provider’s stock after selling 90 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Chubb were worth $322,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Bainco International Investors boosted its stake in shares of Chubb by 0.7% in the 2nd quarter. Bainco International Investors now owns 73,032 shares of the financial services provider’s stock valued at $9,286,000 after buying an additional 480 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Chubb in the 2nd quarter valued at about $258,000. Glen Harbor Capital Management LLC boosted its stake in shares of Chubb by 33.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 7,008 shares of the financial services provider’s stock valued at $890,000 after buying an additional 1,776 shares during the period. Voya Investment Management LLC boosted its stake in shares of Chubb by 1.6% in the 2nd quarter. Voya Investment Management LLC now owns 164,934 shares of the financial services provider’s stock valued at $20,950,000 after buying an additional 2,659 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Chubb by 19.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,738 shares of the financial services provider’s stock valued at $347,000 after buying an additional 451 shares during the period. Institutional investors own 87.58% of the company’s stock.
Several equities analysts have recently issued reports on CB shares. Wells Fargo & Co reiterated a “buy” rating and issued a $169.00 price objective on shares of Chubb in a research note on Wednesday, October 10th. Zacks Investment Research cut Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Citigroup decreased their target price on Chubb from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, October 12th. Morgan Stanley decreased their target price on Chubb from $166.00 to $153.00 and set an “overweight” rating for the company in a research note on Wednesday, November 14th. Finally, Deutsche Bank boosted their target price on Chubb from $122.00 to $123.00 and gave the stock a “sell” rating in a research note on Tuesday, December 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $155.78.
CB stock traded up $0.38 during trading on Friday, hitting $129.91. 34,393 shares of the company’s stock were exchanged, compared to its average volume of 1,690,835. The stock has a market cap of $58.96 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.16 and a beta of 0.91. Chubb Ltd has a 52-week low of $119.54 and a 52-week high of $157.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.02. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. As a group, sell-side analysts anticipate that Chubb Ltd will post 9.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 21st will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, December 20th. Chubb’s dividend payout ratio (DPR) is 36.36%.
Chubb declared that its board has initiated a share buyback plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other Chubb news, Director Michael G. Atieh sold 1,200 shares of Chubb stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $133.27, for a total transaction of $159,924.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 1,242 shares of company stock worth $165,544. 0.44% of the stock is currently owned by corporate insiders.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
Further Reading: Asset Allocation Models, Which is Right For You?