Citigroup Inc. Sells 4,289 Shares of Chubb Limited (NYSE:CB)

Citigroup Inc. reduced its stake in shares of Chubb Limited (NYSE:CB) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 404,901 shares of the financial services provider’s stock after selling 4,289 shares during the quarter. Citigroup Inc. owned 0.10% of Chubb worth $116,769,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in Chubb during the first quarter worth $25,000. Beacon Capital Management LLC lifted its position in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in Chubb in the second quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new position in Chubb in the second quarter valued at about $28,000. Finally, Kozak & Associates Inc. acquired a new position in Chubb during the third quarter worth about $29,000. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 5.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays began coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JMP Securities boosted their price target on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $287.37.

Chubb Stock Up 0.0 %

Shares of NYSE:CB opened at $285.21 on Friday. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50-day moving average is $287.46 and its 200-day moving average is $274.26. The company has a market capitalization of $114.97 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 6.62 and a beta of 0.67.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.95 earnings per share. Equities research analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio is presently 14.91%.

Chubb Company Profile

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.