Cypress Capital Group Decreases Stock Holdings in Chubb Limited (NYSE:CB)

Cypress Capital Group reduced its holdings in shares of Chubb Limited (NYSE:CBGet Rating) by 51.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,164 shares of the financial services provider’s stock after selling 1,235 shares during the period. Cypress Capital Group’s holdings in Chubb were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CB. Enterprise Trust & Investment Co bought a new position in Chubb during the second quarter valued at $25,000. Heritage Financial Services LLC purchased a new position in Chubb in the 2nd quarter worth about $29,000. Crewe Advisors LLC purchased a new position in Chubb during the 2nd quarter valued at about $32,000. Key Financial Inc increased its position in Chubb by 76.2% during the 2nd quarter. Key Financial Inc now owns 178 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 77 shares during the period. Finally, FinTrust Capital Advisors LLC increased its position in Chubb by 36.9% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 215 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 58 shares during the period. 87.12% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 2.1 %

Shares of NYSE:CB opened at $228.35 on Wednesday. The stock’s 50-day moving average price is $218.80 and its two-hundred day moving average price is $202.25. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. Chubb Limited has a 12-month low of $173.78 and a 12-month high of $230.27. The firm has a market cap of $94.78 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.28 and a beta of 0.68.

Chubb (NYSE:CBGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.15. The business had revenue of $10.75 billion for the quarter, compared to analyst estimates of $10.71 billion. Chubb had a return on equity of 11.89% and a net margin of 14.70%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.64 EPS. On average, research analysts forecast that Chubb Limited will post 15.41 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 16th were issued a dividend of $0.83 per share. The ex-dividend date was Thursday, December 15th. This represents a $3.32 annualized dividend and a yield of 1.45%. Chubb’s dividend payout ratio is presently 23.15%.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 24,049 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $207.91, for a total value of $5,000,027.59. Following the completion of the sale, the chief executive officer now directly owns 570,622 shares in the company, valued at approximately $118,638,020.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 24,049 shares of the business’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $207.91, for a total transaction of $5,000,027.59. Following the completion of the transaction, the chief executive officer now owns 570,622 shares in the company, valued at approximately $118,638,020.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sean Ringsted sold 12,686 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $210.37, for a total value of $2,668,753.82. Following the completion of the sale, the executive vice president now owns 212,995 shares of the company’s stock, valued at approximately $44,807,758.15. The disclosure for this sale can be found here. Insiders have sold 70,786 shares of company stock worth $14,975,790 in the last three months. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Chubb from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, December 14th. StockNews.com began coverage on shares of Chubb in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company boosted their price target on shares of Chubb from $250.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. Citigroup lifted their target price on shares of Chubb from $209.00 to $229.00 in a research note on Wednesday, November 16th. Finally, Raymond James boosted their price target on shares of Chubb from $260.00 to $270.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.33.

Chubb Company Profile

(Get Rating)

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

See Also

Institutional Ownership by Quarter for Chubb (NYSE:CB)

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