Clearbridge Investments LLC Sells 61,181 Shares of Chubb Limited (NYSE:CB)

Clearbridge Investments LLC cut its position in Chubb Limited (NYSE:CB) by 29.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,251 shares of the financial services provider’s stock after selling 61,181 shares during the period. Clearbridge Investments LLC’s holdings in Chubb were worth $33,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Balentine LLC increased its stake in Chubb by 8.1% during the 4th quarter. Balentine LLC now owns 5,614 shares of the financial services provider’s stock worth $1,269,000 after purchasing an additional 423 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Chubb by 25.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,329 shares of the financial services provider’s stock worth $1,204,000 after purchasing an additional 1,093 shares in the last quarter. Gladstone Institutional Advisory LLC grew its position in Chubb by 159.5% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,361 shares of the financial services provider’s stock valued at $2,116,000 after purchasing an additional 5,753 shares in the last quarter. Brady Family Wealth LLC boosted its stake in shares of Chubb by 3.1% during the 4th quarter. Brady Family Wealth LLC now owns 23,218 shares of the financial services provider’s stock worth $5,247,000 after buying an additional 701 shares during the last quarter. Finally, Firetrail Investments PTY Ltd. bought a new position in shares of Chubb in the 4th quarter valued at about $5,269,000. 83.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the sale, the executive vice president now owns 50,486 shares in the company, valued at approximately $12,879,483.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Joseph F. Wayland sold 26,946 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the transaction, the executive vice president now directly owns 95,252 shares of the company’s stock, valued at $24,481,669.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the transaction, the executive vice president now owns 50,486 shares in the company, valued at $12,879,483.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,815 shares of company stock worth $37,349,247. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CB shares. Bank of America raised shares of Chubb from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $244.00 to $266.00 in a research report on Thursday. Morgan Stanley boosted their price target on Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and issued a $275.00 price objective (up from $238.00) on shares of Chubb in a research report on Thursday, March 14th. Piper Sandler restated an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and an average price target of $266.70.

Chubb Trading Down 1.6 %

CB opened at $263.08 on Friday. Chubb Limited has a twelve month low of $183.71 and a twelve month high of $275.41. The company has a fifty day moving average of $253.60 and a 200-day moving average of $241.26. The stock has a market cap of $106.83 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 9.48 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.41 EPS. On average, sell-side analysts predict that Chubb Limited will post 21.21 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio is 15.27%.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.