Brown Brothers Harriman & Co. Trims Stake in Chubb Limited (NYSE:CB)

Brown Brothers Harriman & Co. trimmed its position in Chubb Limited (NYSE:CB) by 70.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,222 shares of the financial services provider’s stock after selling 36,532 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Chubb were worth $4,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after buying an additional 931,841 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after acquiring an additional 826,700 shares during the period. Troy Asset Management Ltd bought a new position in shares of Chubb in the 2nd quarter worth $106,975,000. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Chubb during the 2nd quarter worth $93,411,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Chubb by 349.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 463,300 shares of the financial services provider’s stock valued at $118,179,000 after purchasing an additional 360,300 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several analyst reports. Barclays assumed coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI upped their price target on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Bank of America upped their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $287.37.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock valued at $23,803,540 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $286.41 on Tuesday. The stock has a market cap of $115.45 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 6.65 and a beta of 0.67. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The company has a 50 day simple moving average of $287.37 and a two-hundred day simple moving average of $274.81. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.95 earnings per share. As a group, analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.27%. Chubb’s payout ratio is 14.91%.

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.