Klingenstein Fields & Co. LP Sells 426 Shares of Chubb Limited (NYSE:CB)

Klingenstein Fields & Co. LP reduced its position in shares of Chubb Limited (NYSE:CB) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 109,057 shares of the financial services provider’s stock after selling 426 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Chubb were worth $31,451,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of Chubb in the 2nd quarter worth $963,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Chubb by 16.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after buying an additional 10,745 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Chubb during the 1st quarter worth about $984,000. Leuthold Group LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $3,033,000. Finally, Private Advisor Group LLC raised its position in shares of Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after acquiring an additional 2,250 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB stock opened at $279.27 on Monday. The firm has a market cap of $112.57 billion, a PE ratio of 11.36, a P/E/G ratio of 6.64 and a beta of 0.67. Chubb Limited has a 12 month low of $216.26 and a 12 month high of $302.05. The company’s fifty day simple moving average is $288.23 and its 200-day simple moving average is $271.01. The company has a quick ratio of 0.31, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.95 EPS. Equities research analysts expect that Chubb Limited will post 21.6 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.30%. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on 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 owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock worth $24,874,208 over the last ninety days. 0.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley boosted their price target on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays started coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Bank of America increased their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $287.26.

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.