Adage Capital Partners GP L.L.C. Reduces Holdings in Chubb Limited (NYSE:CB)

Adage Capital Partners GP L.L.C. reduced its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,283 shares of the financial services provider's stock after selling 83,800 shares during the period. Adage Capital Partners GP L.L.C. owned 0.06% of Chubb worth $71,916,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Barclays PLC increased its holdings in Chubb by 28.1% in the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider's stock valued at $511,226,000 after buying an additional 388,746 shares in the last quarter. Invst LLC increased its holdings in Chubb by 6.0% in the 3rd quarter. Invst LLC now owns 915 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 52 shares in the last quarter. Boyar Asset Management Inc. boosted its position in Chubb by 3.8% in the 3rd quarter. Boyar Asset Management Inc. now owns 2,789 shares of the financial services provider's stock valued at $804,000 after buying an additional 102 shares during the last quarter. World Investment Advisors LLC lifted its position in shares of Chubb by 895.5% during the third quarter. World Investment Advisors LLC now owns 32,183 shares of the financial services provider's stock worth $9,281,000 after purchasing an additional 28,950 shares during the last quarter. Finally, Sfmg LLC raised its position in shares of Chubb by 2.4% during the 3rd quarter. Sfmg LLC now owns 1,681 shares of the financial services provider's stock valued at $485,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Trading Up 0.7 %

CB stock traded up $1.94 during trading on Tuesday, reaching $284.12. The company had a trading volume of 476,196 shares, compared to its average volume of 1,625,371. Chubb Limited has a 52 week low of $244.84 and a 52 week high of $306.91. The company has a market cap of $113.84 billion, a P/E ratio of 12.49, a PEG ratio of 3.36 and a beta of 0.47. The business has a 50 day moving average of $286.71 and a 200 day moving average of $281.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.91 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. Chubb's payout ratio is 17.52%.

Insider Buying and Selling

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares in the company, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,470 shares of company stock valued at $18,562,730 over the last quarter. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JMP Securities reissued a "market outperform" rating and issued a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Piper Sandler upped their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Royal Bank of Canada reissued an "outperform" rating and set a $320.00 price objective on shares of Chubb in a report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $307.86.

Chubb Company 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.