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

Key Points

• Shikiar Asset Management Inc. reduced its stake in Chubb Limited by 4.5%, holding 22,391 shares valued at approximately $6.49 million after selling 1,050 shares.
• Chubb's Director, Michael Corbat, increased his holdings by acquiring 425 shares at an average price of $269.80, raising his total shares to 2,450.
• Several analysts have adjusted their price targets, with UBS lowering it to $292 and JPMorgan raising it to $327, contributing to a consensus rating of "Moderate Buy."

Shikiar Asset Management Inc. cut its stake in Chubb Limited (NYSE:CB - Free Report) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,391 shares of the financial services provider's stock after selling 1,050 shares during the period. Chubb accounts for approximately 1.8% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 26th largest holding. Shikiar Asset Management Inc.'s holdings in Chubb were worth $6,487,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the first quarter worth $25,000. North Capital Inc. bought a new position in shares of Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the first quarter worth $31,000. 1248 Management LLC bought a new position in shares of Chubb in the first quarter worth $31,000. Finally, WPG Advisers LLC bought a new position in shares of Chubb in the first quarter worth $33,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CB shares. UBS Group decreased their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a research note on Wednesday. Wells Fargo & Company increased their price target on Chubb from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research note on Wednesday. HSBC cut Chubb from a "buy" rating to a "hold" rating and decreased their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Chubb from $321.00 to $327.00 and gave the company a "neutral" rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $306.82.

Chubb Trading Down 1.0%

Shares of CB opened at $284.13 on Friday. The business's 50-day moving average price is $276.36 and its 200 day moving average price is $282.07. The stock has a market capitalization of $113.28 billion, a P/E ratio of 12.53, a P/E/G ratio of 3.23 and a beta of 0.54. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company posted $5.38 EPS. The business's quarterly revenue was up 6.3% compared to the same quarter last year. Analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is presently 17.12%.

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.

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