American International Group Inc. Sells 3,271 Shares of Chubb Limited (NYSE:CB)

American International Group Inc. reduced its stake in shares of Chubb Limited (NYSE:CB) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 138,612 shares of the financial services provider’s stock after selling 3,271 shares during the period. American International Group Inc.’s holdings in Chubb were worth $31,326,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. ZRC Wealth Management LLC purchased a new position in Chubb during the 4th quarter worth $29,000. Tennessee Valley Asset Management Partners purchased a new stake in Chubb in the 4th quarter valued at about $32,000. Northwest Financial Advisors bought a new position in shares of Chubb during the 4th quarter worth approximately $33,000. Naples Money Management LLC purchased a new position in shares of Chubb in the 4th quarter worth approximately $34,000. Finally, EdgeRock Capital LLC bought a new position in shares of Chubb in the fourth quarter valued at approximately $35,000. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB stock traded down $2.83 on Friday, reaching $259.46. The company’s stock had a trading volume of 1,351,637 shares, compared to its average volume of 1,558,962. The company has a market capitalization of $105.36 billion, a P/E ratio of 11.52, a PEG ratio of 6.22 and a beta of 0.66. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $275.41. The stock’s 50 day simple moving average is $256.17 and its 200-day simple moving average is $246.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $4.41 EPS. As a group, equities analysts predict that Chubb Limited will post 21.19 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.40%. Chubb’s dividend payout ratio (DPR) is presently 15.27%.

Insider Activity

In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John J. Lupica sold 34,464 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the sale, the insider now directly owns 130,937 shares in the company, valued at approximately $33,902,208.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the transaction, the chief accounting officer now directly owns 7,718 shares in the company, valued at $2,036,085.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,119 shares of company stock worth $22,593,042. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Evercore ISI increased their price target on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Roth Mkm reissued a “buy” rating and set a $280.00 target price on shares of Chubb in a research report on Wednesday, April 24th. Finally, Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $244.00 to $266.00 in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $266.70.

Chubb Profile

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