Corbyn Investment Management Inc. MD Has $3.95 Million Stock Position in Chubb Limited $CB

Corbyn Investment Management Inc. MD lowered its position in Chubb Limited (NYSE:CB) by 12.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,615 shares of the financial services provider’s stock after selling 1,851 shares during the period. Chubb makes up about 1.3% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 25th largest position. Corbyn Investment Management Inc. MD’s holdings in Chubb were worth $3,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IMA Advisory Services Inc. acquired a new stake in shares of Chubb during the first quarter worth about $31,000. 1248 Management LLC acquired a new position in shares of Chubb in the 1st quarter valued at approximately $31,000. WPG Advisers LLC bought a new stake in Chubb during the 1st quarter worth approximately $33,000. Maseco LLP acquired a new stake in Chubb during the 2nd quarter worth approximately $35,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Chubb by 391.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $36,000 after buying an additional 94 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CB shares. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Citigroup upped their target price on shares of Chubb from $326.00 to $331.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Jefferies Financial Group lifted their price target on Chubb from $297.00 to $302.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Piper Sandler restated a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price objective on Chubb from $277.00 to $293.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $307.79.

Chubb Trading Up 1.4%

Chubb stock opened at $292.30 on Wednesday. The company has a market cap of $115.04 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.74 and a beta of 0.58. The firm has a 50-day moving average of $279.37 and a 200-day moving average of $280.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28. Chubb Limited has a one year low of $252.16 and a one year high of $306.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business had revenue of $14.87 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the prior year, the company posted $5.72 earnings per share. Chubb’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. Chubb’s dividend payout ratio is currently 16.19%.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 23,698 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares of the company’s stock, valued at approximately $25,458,600. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

About Chubb

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.