Tocqueville Asset Management L.P. Reduces Stock Holdings in Chubb Limited $CB

Key Points

• Tocqueville Asset Management cut its stake in Chubb by 13.2% in Q3, selling 17,072 shares and leaving it with 112,137 shares valued at about $31.65 million.
• Significant insider selling occurred recently: EVP Timothy Alan Boroughs sold 27,817 shares for roughly $9.23 million and CEO Evan G. Greenberg sold 15,060 shares for about $4.99 million.
• Chubb beat quarterly EPS estimates ($7.52 vs. $6.33), declared a $0.97 quarterly dividend (annualized yield ~1.2%), and holds an average analyst rating of "Hold" with an average target price of $340.81.

Tocqueville Asset Management L.P. cut its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 13.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 112,137 shares of the financial services provider's stock after selling 17,072 shares during the period. Tocqueville Asset Management L.P.'s holdings in Chubb were worth $31,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westbourne Investment Advisors Inc. lifted its stake in shares of Chubb by 12.3% in the third quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider's stock worth $6,275,000 after acquiring an additional 2,427 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Chubb by 166.3% in the third quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider's stock valued at $1,046,000 after purchasing an additional 2,315 shares during the last quarter. Caprock Group LLC acquired a new stake in Chubb during the 3rd quarter valued at approximately $3,123,000. Liberty One Investment Management LLC purchased a new stake in Chubb during the 3rd quarter worth approximately $51,167,000. Finally, Cooke & Bieler LP increased its holdings in Chubb by 21.3% during the 3rd quarter. Cooke & Bieler LP now owns 606,011 shares of the financial services provider's stock worth $171,047,000 after purchasing an additional 106,237 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Chubb from $326.00 to $333.00 and gave the company a "hold" rating in a research note on Thursday, February 5th. Wolfe Research lifted their price target on shares of Chubb from $364.00 to $372.00 and gave the stock an "outperform" rating in a research note on Thursday, February 5th. Cantor Fitzgerald upped their price target on shares of Chubb from $300.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, January 14th. Citizens Jmp reiterated a "market outperform" rating and set a $350.00 price objective on shares of Chubb in a research note on Wednesday, February 4th. Finally, UBS Group reissued a "neutral" rating and set a $340.00 price objective on shares of Chubb in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $340.81.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares of the company's stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company's stock.

Chubb Stock Performance

Shares of NYSE CB traded up $1.23 during trading on Friday, reaching $330.79. The stock had a trading volume of 420,813 shares, compared to its average volume of 1,741,889. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $129.06 billion, a PE ratio of 12.86, a P/E/G ratio of 2.02 and a beta of 0.46. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The firm's 50 day moving average price is $319.17 and its two-hundred day moving average price is $299.00.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $1.19. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $6.02 earnings per share. On average, research 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 will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb's dividend payout ratio (DPR) is presently 15.08%.

Chubb 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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