HighTower Advisors LLC Sells 44,378 Shares of Chubb Limited $CB

HighTower Advisors LLC lessened its stake in shares of Chubb Limited (NYSE:CB) by 17.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,367 shares of the financial services provider’s stock after selling 44,378 shares during the quarter. HighTower Advisors LLC’s holdings in Chubb were worth $58,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CB. Westbourne Investment Advisors Inc. lifted its stake in Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Chubb by 14.1% in the second quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock worth $20,655,000 after purchasing an additional 8,828 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Chubb by 166.3% in the third quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 2,315 shares during the period. Liberty One Investment Management LLC purchased a new stake in shares of Chubb in the third quarter worth $51,167,000. Finally, Caprock Group LLC bought a new stake in Chubb during the third quarter valued at $3,123,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB stock opened at $324.57 on Tuesday. The business’s fifty day moving average is $311.26 and its 200 day moving average is $291.80. The company has a quick ratio of 0.27, a current ratio of 0.24 and a debt-to-equity ratio of 0.20. The stock has a market cap of $127.73 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.07 and a beta of 0.49. Chubb Limited has a twelve month low of $263.14 and a twelve month high of $335.60.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same quarter last year, the firm posted $6.02 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is presently 15.08%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CB shares. JPMorgan Chase & Co. upped their target price on Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Barclays increased their price target on shares of Chubb from $317.00 to $339.00 and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Mizuho raised their price objective on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group increased their price objective on Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $340.09.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,307 shares of company stock worth $17,611,016. Corporate insiders own 0.86% of the company’s stock.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.