Cullen Capital Management LLC Has $201.50 Million Stake in Chubb Limited $CB

Cullen Capital Management LLC lowered its stake in Chubb Limited (NYSE:CB) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695,502 shares of the financial services provider’s stock after selling 3,874 shares during the quarter. Chubb makes up approximately 2.3% of Cullen Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Cullen Capital Management LLC owned 0.17% of Chubb worth $201,501,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Chubb in the 2nd quarter valued at approximately $1,195,137,000. Bank of America Corp DE increased 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 worth $1,428,278,000 after buying an additional 513,852 shares in the last quarter. London Co. of Virginia increased 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 worth $213,559,000 after buying an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC lifted its stake 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 during the last quarter. Finally, Troy Asset Management Ltd boosted its holdings in shares of Chubb by 89.1% during the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after acquiring an additional 373,872 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Up 0.8%

NYSE:CB opened at $308.45 on Monday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $308.98. 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 firm’s fifty day moving average is $288.27 and its 200-day moving average is $282.14. The firm has a market cap of $121.39 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.52 and a beta of 0.51.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.72 earnings per share. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s dividend payout ratio is presently 16.19%.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. Jefferies Financial Group increased their target price on Chubb from $297.00 to $302.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. BMO Capital Markets reissued a “market perform” rating and set a $283.00 target price on shares of Chubb in a report on Thursday, October 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $309.00 price target on shares of Chubb in a research note on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.79.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 850 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $295.19, for a total transaction of $250,911.50. Following the completion of the sale, the executive vice president owned 1,585 shares of the company’s stock, valued at $467,876.15. This trade represents a 34.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,333 shares of company stock valued at $16,629,873 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Chubb 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.