Cacti Asset Management LLC Reduces Stake in Chubb Limited $CB

Cacti Asset Management LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,638 shares of the financial services provider’s stock after selling 2,828 shares during the period. Chubb makes up approximately 4.8% of Cacti Asset Management LLC’s holdings, making the stock its 7th biggest position. Cacti Asset Management LLC owned about 0.06% of Chubb worth $71,474,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Chubb during the second quarter valued at $1,195,137,000. Bank of America Corp DE raised its holdings in shares of Chubb by 11.6% during the second 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 acquiring an additional 513,852 shares during the period. London Co. of Virginia raised its holdings in shares of Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock valued at $213,559,000 after acquiring an additional 500,116 shares during the period. Altrinsic Global Advisors LLC lifted its position in shares of Chubb by 46.9% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after acquiring an additional 444,557 shares in the last quarter. Finally, Troy Asset Management Ltd lifted its holdings in shares of Chubb by 89.1% in the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after purchasing an additional 373,872 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 850 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $295.19, for a total transaction of $250,911.50. Following the transaction, the executive vice president directly owned 1,585 shares in the company, valued at approximately $467,876.15. This represents a 34.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John J. Lupica sold 16,375 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the transaction, the insider directly owned 74,225 shares in the company, valued at approximately $22,004,001.25. The trade was a 18.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 57,333 shares of company stock valued at $16,629,873. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a research note on Monday, November 24th. Wolfe Research lifted their price objective on shares of Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $309.00 price objective on shares of Chubb in a report on Monday, October 27th. UBS Group raised their price objective on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Finally, JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $309.79.

Chubb Stock Up 0.8%

NYSE CB opened at $308.45 on Monday. The stock’s 50 day simple moving average is $288.27 and its 200 day simple moving average is $282.14. Chubb Limited has a one year low of $252.16 and a one year high of $308.98. The firm has a market cap of $121.39 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 3.52 and a beta of 0.51. 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 (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the previous year, the firm earned $5.72 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be issued a $0.97 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.88 annualized dividend and a yield of 1.3%. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

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.