Princeton Global Asset Management LLC decreased its position in Chubb Limited (NYSE:CB) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 18,214 shares of the financial services provider’s stock after selling 62 shares during the period. 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 institutional investors have also recently bought and sold shares of CB. Capstone Triton Financial Group LLC acquired a new position in Chubb in the 4th quarter worth approximately $25,000. RWM Asset Management LLC acquired a new stake in shares of Chubb during the 4th quarter valued at $26,000. Arlington Partners LLC acquired a new stake in shares of Chubb during the 4th quarter valued at $27,000. Addison Advisors LLC acquired a new stake in shares of Chubb during the 4th quarter valued at $28,000. Finally, Mcmillion Capital Management Inc. acquired a new stake in shares of Chubb during the 4th quarter valued at $28,000. 85.79% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on CB. Bank of America lowered shares of Chubb from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $132.00 to $138.00 in a research note on Tuesday, December 22nd. Piper Sandler lifted their target price on shares of Chubb from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Morgan Stanley lifted their price objective on shares of Chubb from $149.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 12th. JPMorgan Chase & Co. lowered shares of Chubb from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $152.00 to $155.00 in a research note on Monday, January 4th. Finally, TheStreet raised shares of Chubb from a “c” rating to a “b-” rating in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $157.78.
In other Chubb news, Vice Chairman Paul J. Krump sold 6,250 shares of the business’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $160.06, for a total value of $1,000,375.00. Following the transaction, the insider now directly owns 108,021 shares in the company, valued at $17,289,841.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Paul J. Krump sold 5,600 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $165.05, for a total transaction of $924,280.00. Following the completion of the transaction, the insider now owns 101,921 shares in the company, valued at $16,822,061.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,603 shares of company stock worth $8,151,275. Company insiders own 0.37% of the company’s stock.
NYSE CB traded up $0.16 on Tuesday, reaching $168.72. The company’s stock had a trading volume of 33,561 shares, compared to its average volume of 1,629,804. The firm has a market cap of $76.16 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The business has a 50-day moving average price of $156.94 and a 200 day moving average price of $139.84. Chubb Limited has a 52 week low of $87.35 and a 52 week high of $169.14. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.
Chubb (NYSE:CB) last posted its earnings results on Monday, February 1st. The financial services provider reported $3.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.82 by $0.36. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.83 billion. Chubb had a net margin of 6.24% and a return on equity of 5.33%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. Analysts anticipate that Chubb Limited will post 7.02 earnings per share for the current fiscal year.
Chubb declared that its board has approved a share buyback plan on Thursday, November 19th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Chubb Company Profile
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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