Chubb Ltd (CB) Holdings Reduced by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. trimmed its holdings in shares of Chubb Ltd (NYSE:CB) by 95.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,316 shares of the financial services provider’s stock after selling 421,033 shares during the period. Levin Capital Strategies L.P.’s holdings in Chubb were worth $2,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Trust LLC purchased a new stake in Chubb during the 2nd quarter valued at $102,000. ELM Advisors LLC purchased a new stake in Chubb during the 3rd quarter valued at $103,000. Clarus Wealth Advisors purchased a new stake in Chubb during the 2nd quarter valued at $113,000. Legacy Advisors LLC boosted its stake in Chubb by 1,612.0% during the 3rd quarter. Legacy Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 806 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Chubb during the 2nd quarter valued at $127,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

In related news, CEO Evan G. Greenberg sold 227,994 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total value of $31,985,278.26. Following the transaction, the chief executive officer now directly owns 1,583,326 shares of the company’s stock, valued at approximately $222,124,804.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy Alan Boroughs sold 14,971 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $139.37, for a total value of $2,086,508.27. Following the completion of the transaction, the insider now directly owns 202,794 shares in the company, valued at $28,263,399.78. The disclosure for this sale can be found here. Insiders have sold a total of 242,967 shares of company stock worth $34,072,088 over the last three months. Insiders own 0.44% of the company’s stock.



Several brokerages have commented on CB. Deutsche Bank downgraded Chubb from a “hold” rating to a “sell” rating and cut their target price for the company from $135.00 to $126.00 in a research note on Monday, August 13th. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Citigroup increased their target price on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Wells Fargo & Co reissued a “buy” rating and set a $169.00 price target on shares of Chubb in a report on Tuesday, July 24th. Finally, Barclays lowered their price target on Chubb from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $159.60.

NYSE CB opened at $123.02 on Tuesday. The firm has a market cap of $56.92 billion, a PE ratio of 11.65, a PEG ratio of 1.24 and a beta of 1.01. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a 1-year low of $120.50 and a 1-year high of $157.50.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.02. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. As a group, analysts forecast that Chubb Ltd will post 9.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 21st were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.92 annualized dividend and a dividend yield of 2.37%. Chubb’s payout ratio is 36.36%.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

See Also: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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