Corbyn Investment Management Inc. MD Decreases Stock Position in Chubb Limited (NYSE:CB)

Corbyn Investment Management Inc. MD cut its holdings in Chubb Limited (NYSE:CB) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,638 shares of the financial services provider’s stock after selling 712 shares during the quarter. Chubb makes up about 1.7% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 18th largest position. Corbyn Investment Management Inc. MD’s holdings in Chubb were worth $4,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CB. Wellington Shields & Co. LLC purchased a new position in Chubb in the 1st quarter valued at about $94,000. Edgestream Partners L.P. acquired a new position in shares of Chubb during the 1st quarter valued at about $984,000. Rockport Wealth LLC acquired a new position in shares of Chubb during the 1st quarter valued at about $425,000. O Shaughnessy Asset Management LLC increased its stake in shares of Chubb by 20.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 56,373 shares of the financial services provider’s stock valued at $14,608,000 after acquiring an additional 9,614 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC acquired a new position in shares of Chubb during the 1st quarter valued at about $696,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 103,950 shares of the company’s stock, valued at $29,676,685.50. This represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 in the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley upped their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler upped their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Jefferies Financial Group raised 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. Finally, Wells Fargo & Company increased their target price on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Stock Up 0.4 %

Shares of CB stock opened at $288.00 on Monday. The stock’s 50 day simple moving average is $287.84 and its 200 day simple moving average is $273.37. 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 Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The company has a market capitalization of $116.09 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 6.71 and a beta of 0.67.

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. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the previous year, the business posted $4.95 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that Chubb Limited will post 21.77 EPS for the current year.

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.