Princeton Global Asset Management LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 0.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 18,214 shares of the financial services provider’s stock after selling 62 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Chubb were worth $2,803,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CB. Capstone Triton Financial Group LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $25,000. RWM Asset Management LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $26,000. Arlington Partners LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $27,000. Addison Advisors LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $28,000. Finally, Mcmillion Capital Management Inc. acquired a new position in shares of Chubb in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 85.79% of the company’s stock.
CB stock traded up $0.16 during midday trading on Tuesday, reaching $168.72. 33,561 shares of the company’s stock traded hands, compared to its average volume of 1,629,804. The company has a market cap of $76.16 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 1.36 and a beta of 0.67. The firm’s fifty day moving average price is $156.94 and its 200-day moving average price is $139.84. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. Chubb Limited has a 52 week low of $87.35 and a 52 week high of $169.14.
Chubb declared that its Board of Directors has authorized a share buyback program on Thursday, November 19th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
A number of research analysts have recently issued reports on CB shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Chubb from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $138.00 to $176.00 in a research report on Tuesday, December 8th. JPMorgan Chase & Co. downgraded shares of Chubb from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $152.00 to $155.00 in a research report on Monday, January 4th. TheStreet upgraded shares of Chubb from a “c” rating to a “b-” rating in a research report on Thursday, October 29th. Raymond James lifted their price objective on shares of Chubb from $180.00 to $190.00 and gave the company a “strong-buy” rating in a research note on Friday, February 5th. Finally, MKM Partners lifted their price objective on shares of Chubb from $150.00 to $180.00 in a research note on Friday, November 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $157.78.
In other news, COO John W. Keogh sold 23,432 shares of the company’s stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $153.04, for a total value of $3,586,033.28. Following the completion of the sale, the chief operating officer now owns 220,587 shares in the company, valued at approximately $33,758,634.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Paul J. Krump sold 5,600 shares of the company’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $165.05, for a total transaction of $924,280.00. Following the completion of the sale, the insider now owns 101,921 shares of the company’s stock, valued at approximately $16,822,061.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,603 shares of company stock valued at $8,151,275. Company insiders own 0.37% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, casualty, workers' compensation, package policies, risk management, professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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