Cannell & Spears LLC Decreases Holdings in Chubb Limited $CB

Cannell & Spears LLC lowered its holdings in Chubb Limited (NYSE:CB) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 410,642 shares of the financial services provider’s stock after selling 30,509 shares during the period. Chubb makes up 2.7% of Cannell & Spears LLC’s investment portfolio, making the stock its 6th largest position. Cannell & Spears LLC’s holdings in Chubb were worth $133,742,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CB. CBIZ Investment Advisory Services LLC grew its holdings in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC raised its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new stake in Chubb in the first quarter valued at approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in Chubb during the fourth quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC bought a new stake in Chubb during the fourth quarter valued at approximately $32,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CB shares. Bank of America decreased their price target on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets lifted their price objective on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. UBS Group upped their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald increased their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Barclays set a $387.00 price target on Chubb in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $360.09.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Chubb Trading Up 1.8%

Shares of CB opened at $359.78 on Friday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The firm has a market cap of $139.55 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.77 and a beta of 0.40. The firm has a 50 day moving average price of $335.55 and a 200-day moving average price of $327.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.36.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $16.01 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.14 EPS. As a group, equities research analysts forecast that Chubb Limited will post 27.08 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

About Chubb

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.