Goldman Sachs Group Inc. Lowers Position in Chubb Limited (NYSE:CB)

Goldman Sachs Group Inc. cut its stake in shares of Chubb Limited (NYSE:CBGet Rating) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,189,231 shares of the financial services provider’s stock after selling 980,281 shares during the period. Goldman Sachs Group Inc. owned about 0.51% of Chubb worth $423,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in Chubb by 4.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,535 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 108 shares during the period. Victory Capital Management Inc. raised its holdings in Chubb by 71.5% during the fourth quarter. Victory Capital Management Inc. now owns 90,734 shares of the financial services provider’s stock valued at $17,540,000 after acquiring an additional 37,838 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Chubb during the fourth quarter valued at about $41,798,000. Diligent Investors LLC bought a new stake in Chubb during the fourth quarter valued at about $233,000. Finally, United Asset Strategies Inc. bought a new stake in Chubb during the fourth quarter valued at about $403,000. Institutional investors own 88.86% of the company’s stock.

In other Chubb news, insider John J. Lupica sold 901 shares of the company’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $204.39, for a total value of $184,155.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 22,436 shares of the company’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $215.00, for a total transaction of $4,823,740.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,989 shares of company stock worth $11,959,061. 0.39% of the stock is owned by insiders.

Shares of CB stock traded up $1.10 during trading hours on Friday, reaching $206.54. 1,378,232 shares of the company’s stock were exchanged, compared to its average volume of 1,660,461. The stock’s 50 day moving average is $210.08 and its 200-day moving average is $200.38. The company has a market cap of $87.51 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.37 and a beta of 0.73. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. Chubb Limited has a fifty-two week low of $155.78 and a fifty-two week high of $218.99.

Chubb (NYSE:CBGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.34. Chubb had a return on equity of 10.30% and a net margin of 19.65%. During the same quarter in the prior year, the firm earned $2.52 EPS. Equities analysts anticipate that Chubb Limited will post 14.92 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, March 18th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, March 17th. Chubb’s payout ratio is 17.04%.

Several brokerages have recently issued reports on CB. Raymond James lifted their target price on Chubb from $240.00 to $250.00 in a report on Thursday, April 28th. Royal Bank of Canada boosted their price objective on Chubb from $230.00 to $239.00 and gave the stock an “outperform” rating in a research note on Monday, April 4th. StockNews.com started coverage on Chubb in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JMP Securities boosted their price objective on Chubb from $210.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Friday, January 14th. Finally, Morgan Stanley boosted their price objective on Chubb from $210.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Friday, February 4th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of “Buy” and a consensus price target of $221.80.

Chubb Profile (Get Rating)

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

Recommended Stories

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CBGet Rating).

Institutional Ownership by Quarter for Chubb (NYSE:CB)

Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.