Investment Management Corp of Ontario Sells 245 Shares of Chubb Limited (NYSE:CB)

Investment Management Corp of Ontario lessened its stake in Chubb Limited (NYSE:CB) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,584 shares of the financial services provider’s stock after selling 245 shares during the period. Investment Management Corp of Ontario’s holdings in Chubb were worth $3,477,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Sierra Ocean LLC bought a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $29,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Human Investing LLC acquired a new stake in Chubb during the 4th quarter worth $36,000. Finally, Mainstream Capital Management LLC acquired a new stake in Chubb during the 4th quarter worth $37,000. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.3%

NYSE:CB opened at $289.92 on Monday. The stock has a market capitalization of $116.18 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 3.36 and a beta of 0.57. The firm has a fifty day simple moving average of $288.46 and a two-hundred day simple moving average of $280.58. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s dividend payout ratio is currently 17.52%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Wells Fargo & Company lifted their target price on shares of Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $307.86.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the transaction, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. This represents a 33.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock valued at $18,562,730 in the last quarter. Corporate insiders own 0.77% of the company’s stock.

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.