Chubb Limited $CB Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. lessened its holdings in shares of Chubb Limited (NYSE:CB) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,119 shares of the financial services provider’s stock after selling 69 shares during the period. Cidel Asset Management Inc.’s holdings in Chubb were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GQG Partners LLC grew its holdings in Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares during the period. Ameriprise Financial Inc. grew its holdings in Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after acquiring an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Chubb by 1.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after acquiring an additional 30,334 shares during the period. Nuveen LLC acquired a new stake in Chubb in the first quarter valued at $562,221,000. Finally, AQR Capital Management LLC grew its holdings in Chubb by 19.6% in the first quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock valued at $423,826,000 after purchasing an additional 231,404 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CB shares. JPMorgan Chase & Co. upped their target price on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Barclays upped their target price on Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Wolfe Research raised Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Bank of America upped their target price on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a report on Monday, October 13th. Finally, UBS Group lowered their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $305.28.

Chubb Stock Down 0.0%

CB opened at $268.15 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $106.91 billion, a P/E ratio of 11.83, a PEG ratio of 3.02 and a beta of 0.54. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The business’s fifty day simple moving average is $277.40 and its 200 day simple moving average is $280.94.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.38 earnings per share. As a group, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s dividend payout ratio is 17.12%.

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.