Canoe Financial LP Sells 4,434 Shares of Chubb Limited $CB

Canoe Financial LP decreased its position in Chubb Limited (NYSE:CB) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,451 shares of the financial services provider’s stock after selling 4,434 shares during the period. Canoe Financial LP’s holdings in Chubb were worth $40,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC boosted its holdings in Chubb by 6.2% during the first quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after buying an additional 143 shares during the last quarter. Assetmark Inc. raised its position in shares of Chubb by 14.1% in the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock valued at $20,655,000 after acquiring an additional 8,828 shares during the period. Trifecta Capital Advisors LLC raised its position in shares of Chubb by 764.7% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 130 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Chubb by 28.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 57,794 shares of the financial services provider’s stock worth $16,750,000 after acquiring an additional 12,784 shares during the last quarter. Finally, Investment Partners Asset Management Inc. grew its holdings in Chubb by 19.3% during the second quarter. Investment Partners Asset Management Inc. now owns 1,789 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 290 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

CB opened at $313.32 on Friday. The company has a market capitalization of $123.31 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 3.58 and a beta of 0.51. The business’s 50-day moving average price is $293.56 and its two-hundred day moving average price is $283.38. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $314.40. 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 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the prior year, the firm earned $5.72 earnings per share. Chubb’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore ISI increased their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Bank of America raised their price objective on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research note on Monday, October 13th. Citigroup boosted their target price on Chubb from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Wolfe Research raised their price target on Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $311.90.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the completion of the sale, the insider owned 90,600 shares in the company, valued at $25,458,600. The trade was a 20.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 57,333 shares of company stock valued at $16,629,873 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

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.