Princeton Global Asset Management LLC Sells 5,210 Shares of Chubb Limited $CB

Key Points

• Princeton Global Asset Management cut its stake in Chubb by 21.0%, selling 5,210 shares and now holds 19,598 shares worth about $6.12 million, roughly 1.0% of its portfolio (its 25th largest position).
• Company insiders have been net sellers: CEO Evan G. Greenberg sold 15,060 shares for about $4.99 million, and insiders have sold a total of 44,877 shares valued at approximately $14.9 million over the past 90 days.
• Chubb reported a quarterly EPS of $7.52, topping estimates, and declared a quarterly dividend of $0.97 per share (annualized $3.88, yield ~1.2%).

Princeton Global Asset Management LLC lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,598 shares of the financial services provider's stock after selling 5,210 shares during the quarter. Chubb makes up approximately 1.0% of Princeton Global Asset Management LLC's portfolio, making the stock its 25th biggest position. Princeton Global Asset Management LLC's holdings in Chubb were worth $6,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after acquiring an additional 221 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb during the fourth quarter valued at about $205,000. Woodline Partners LP raised its stake in shares of Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after acquiring an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after purchasing an additional 175 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Chubb during the second quarter worth about $728,000. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This 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 can be accessed through this link. Also, Director Olivier Steimer sold 2,000 shares of the firm's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares of the company's stock, valued at $8,386,612.40. This represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,877 shares of company stock valued at $14,885,226 over the last ninety days. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CB. HSBC boosted their price target on Chubb from $354.00 to $357.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Bank of America cut their price objective on Chubb from $279.00 to $259.00 and set an "underperform" rating on the stock in a research report on Friday, January 16th. Citigroup boosted their target price on Chubb from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Mizuho upped their target price on Chubb from $317.00 to $336.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Finally, Raymond James Financial raised their price target on Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chubb presently has an average rating of "Hold" and a consensus target price of $342.14.

Chubb Stock Performance

Shares of CB opened at $328.55 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The company has a 50-day simple moving average of $326.08 and a two-hundred day simple moving average of $304.76. The firm has a market capitalization of $128.21 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.75 and a beta of 0.49.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts' consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the prior year, the business earned $6.02 EPS. The business's revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb's payout ratio is currently 15.08%.

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.

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