Eagle Rock Investment Company LLC Cuts Holdings in Chubb Limited $CB

Eagle Rock Investment Company LLC reduced its stake in Chubb Limited (NYSE:CB) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,752 shares of the financial services provider’s stock after selling 2,780 shares during the period. Chubb accounts for about 2.4% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 10th biggest holding. Eagle Rock Investment Company LLC’s holdings in Chubb were worth $16,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Berkshire Hathaway Inc raised its position in shares of Chubb by 15.9% during 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 grew its stake in 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 buying an additional 68,553 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Chubb by 9.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after buying an additional 427,512 shares during the last quarter. Bank of America Corp DE increased its position in Chubb by 11.6% in 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 during the period. Finally, Norges Bank acquired a new stake in Chubb in the second quarter worth $1,195,137,000. 83.81% of the stock is owned by institutional investors.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Olivier Steimer sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares of the company’s stock, valued at $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 44,877 shares of company stock valued at $14,885,226. Company insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CB. Bank of America reduced their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a report on Friday, January 16th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Citigroup boosted their target price on shares of Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Morgan Stanley set a $350.00 target price on shares of Chubb in a research report on Friday, January 16th. Finally, Raymond James Financial raised their price target on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus price target of $342.05.

Chubb Price Performance

Shares of CB opened at $319.22 on Friday. The firm has a market capitalization of $124.57 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.72 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The stock’s fifty day moving average is $323.43 and its 200-day moving average is $302.83.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.33 by $1.19. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.02 earnings per share. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be given a dividend of $0.97 per share. 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 payout ratio is 15.08%.

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.