Rock Point Advisors LLC Reduces Stock Holdings in Chubb Limited (NYSE:CB)

Rock Point Advisors LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,221 shares of the financial services provider’s stock after selling 470 shares during the period. Rock Point Advisors LLC’s holdings in Chubb were worth $4,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CB. FMR LLC boosted its stake in shares of Chubb by 7.3% during the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after purchasing an additional 1,052,999 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc grew its position in shares of Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after purchasing an additional 104,986 shares during the period. Raymond James & Associates lifted its position in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after buying an additional 87,059 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Chubb by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock valued at $586,207,000 after buying an additional 160,335 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,715 shares of company stock valued at $23,803,540. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Wells Fargo & Company upped their price target on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $287.37.

Chubb Stock Down 0.1 %

NYSE:CB traded down $0.30 during trading hours on Tuesday, hitting $286.12. 49,301 shares of the stock traded hands, compared to its average volume of 1,597,351. The firm has a market cap of $115.33 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 6.65 and a beta of 0.67. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $287.37 and a 200 day moving average price of $274.81.

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

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio is 14.91%.

Chubb 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.