Shelton Capital Management Lowers Holdings in Chubb Limited (NYSE:CB)
Shelton Capital Management lowered its holdings in Chubb Limited (NYSE:CB) by 2.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,417 shares of the financial services provider’s stock after selling 100 shares during the quarter. Shelton Capital Management’s holdings in Chubb were worth $397,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Keebeck Wealth Management LLC acquired a new stake in shares of Chubb during the 2nd quarter worth about $33,000. FinTrust Capital Advisors LLC increased its position in shares of Chubb by 95.3% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 332 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 162 shares during the last quarter. Blue Square Asset Management LLC acquired a new stake in shares of Chubb during the 2nd quarter worth about $51,000. Hoover Financial Advisors Inc. acquired a new stake in shares of Chubb during the 2nd quarter worth about $53,000. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Chubb during the 3rd quarter worth about $54,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on CB. Deutsche Bank Aktiengesellschaft raised their price objective on Chubb from $135.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Barclays assumed coverage on Chubb in a report on Tuesday, November 17th. They set an “overweight” rating and a $171.00 target price for the company. Royal Bank of Canada raised their target price on Chubb from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. TheStreet upgraded Chubb from a “c” rating to a “b-” rating in a report on Thursday, October 29th. Finally, Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and raised their target price for the company from $123.00 to $132.00 in a report on Thursday, October 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $146.82.
CB stock opened at $148.88 on Friday. The business has a 50 day moving average price of $130.26 and a 200 day moving average price of $124.83. The stock has a market cap of $67.20 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.16 and a beta of 0.59. Chubb Limited has a fifty-two week low of $87.35 and a fifty-two week high of $167.74. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.
Chubb (NYSE:CB) last posted its earnings results on Sunday, November 1st. The financial services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.19). The business had revenue of $10.09 billion for the quarter, compared to analysts’ expectations of $9.54 billion. Chubb had a return on equity of 5.33% and a net margin of 6.24%. During the same quarter in the previous year, the firm earned $2.70 EPS. As a group, sell-side analysts anticipate that Chubb Limited will post 7 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Friday, December 18th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, December 17th. Chubb’s payout ratio is 30.86%.
Chubb declared that its board has approved a stock repurchase program on Thursday, November 19th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, casualty, workers' compensation, package policies, risk management, professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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