Stonebrook Private Inc. Sells 6,799 Shares of Chubb Limited $CB

Key Points

• Stonebrook Private Inc. cut its Chubb stake by 58.7% in the fourth quarter, selling 6,799 shares and ending with 4,792 shares worth about $1.496 million.
• Chubb continues to attract major institutional ownership, with Berkshire Hathaway, State Street, Ameriprise, Bank of America, and Norges Bank all holding large positions; institutional investors own 83.81% of the stock.
• The insurer recently raised its quarterly dividend to $1.02 per share from $0.97, and shares were trading around $324.86 as analysts maintained a consensus Moderate Buy rating with a $349.43 price target.

Stonebrook Private Inc. lowered its stake in Chubb Limited (NYSE:CB - Free Report) by 58.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,792 shares of the financial services provider's stock after selling 6,799 shares during the quarter. Stonebrook Private Inc.'s holdings in Chubb were worth $1,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc boosted its stake in Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. State Street Corp boosted its stake in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after acquiring an additional 68,553 shares during the period. Ameriprise Financial Inc. grew its stake in Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider's stock valued at $1,426,475,000 after buying an additional 427,512 shares during the last quarter. Bank of America Corp DE grew its holdings in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after buying an additional 513,852 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Chubb during the 4th quarter worth approximately $1,081,190,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Olivier Steimer sold 2,000 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the transaction, the director directly owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. This trade represents a 7.28% 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. Also, COO John W. Keogh sold 23,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.

Chubb Stock Up 0.9%

Shares of NYSE CB opened at $324.86 on Wednesday. The business has a 50-day simple moving average of $324.76 and a two-hundred day simple moving average of $318.43. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67. The company has a market cap of $126.00 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.64 and a beta of 0.41.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion for the quarter. Research analysts anticipate that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $1.02 dividend. This is an increase from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, June 12th. Chubb's payout ratio is currently 13.70%.

Analysts Set New Price Targets

CB has been the topic of several analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $315.00 price target on shares of Chubb in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. BMO Capital Markets increased their target price on shares of Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Barclays lifted their price objective on shares of Chubb from $374.00 to $375.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Finally, HSBC upped their price objective on shares of Chubb from $362.00 to $370.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb currently has a consensus rating of "Moderate Buy" and a consensus price target of $349.43.

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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