Bridgewater Associates LP Sells 69,567 Shares of Chubb Limited (NYSE:CB)

Bridgewater Associates LP reduced its position in Chubb Limited (NYSE:CB) by 74.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,845 shares of the financial services provider’s stock after selling 69,567 shares during the quarter. Bridgewater Associates LP’s holdings in Chubb were worth $6,877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Capital Management LLC increased its stake in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb in the 1st quarter valued at $25,000. Kozak & Associates Inc. bought a new position in shares of Chubb in the 3rd quarter valued at $29,000. Chilton Capital Management LLC acquired a new position in shares of Chubb during the 2nd quarter worth $26,000. Finally, Truvestments Capital LLC bought a new stake in shares of Chubb during the 3rd quarter worth $30,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction 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 directly owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 5.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock valued at $23,803,540 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Down 0.6 %

Shares of NYSE CB opened at $288.73 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50-day moving average price of $287.30 and a 200-day moving average price of $275.50. The stock has a market capitalization of $116.39 billion, a P/E ratio of 11.82, a P/E/G ratio of 6.77 and a beta of 0.67. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.95 EPS. On average, equities research analysts forecast that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.91 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Wall Street Analyst Weigh In

Several brokerages have commented on CB. Evercore ISI boosted their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley raised their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $287.37.

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.