Clear Harbor Asset Management LLC Cuts Stake in Chubb Limited (NYSE:CB)

Clear Harbor Asset Management LLC lessened its stake in Chubb Limited (NYSE:CB) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,743 shares of the financial services provider’s stock after selling 40 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Chubb were worth $1,863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its position in shares of Chubb by 7.3% during the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after buying an additional 1,052,999 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after acquiring an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Chubb by 4,559.3% during 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 Chubb in the 2nd quarter valued at $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Chubb by 49.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after purchasing an additional 389,343 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $320.00 to $328.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Evercore ISI upped their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered their target price on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. JMP Securities lifted their price target on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $288.17.

Chubb Stock Down 1.5 %

Shares of CB stock opened at $269.38 on Tuesday. The stock’s 50-day simple moving average is $277.89 and its 200-day simple moving average is $278.49. The firm has a market capitalization of $108.59 billion, a PE ratio of 11.03, a P/E/G ratio of 5.65 and a beta of 0.67. Chubb Limited has a fifty-two week low of $226.74 and a fifty-two week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the previous year, the business posted $4.95 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Chubb Limited will post 21.93 earnings per share for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.35%. Chubb’s payout ratio is currently 14.91%.

Chubb Company 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.