Northwest & Ethical Investments L.P. Cuts Position in Chubb Limited (NYSE:CB)

Northwest & Ethical Investments L.P. reduced its position in shares of Chubb Limited (NYSE:CB) by 11.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,028 shares of the financial services provider’s stock after selling 3,347 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Chubb were worth $7,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in Chubb in the first quarter worth about $25,000. Beacon Capital Management LLC grew its stake in Chubb by 76.4% during 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 in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Chubb in the second quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb during the 2nd quarter worth approximately $28,000. Finally, Kozak & Associates Inc. purchased a new stake in Chubb during the third quarter valued at $29,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CB shares. Bank of America boosted their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. JMP Securities upped their price objective on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective 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. JPMorgan Chase & Co. raised their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays started coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $287.37.

Chubb Trading Up 0.6 %

NYSE CB opened at $290.34 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $117.04 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 6.68 and a beta of 0.67. The company’s 50 day moving average price is $287.34 and its 200 day moving average price is $275.26. Chubb Limited has a one year low of $216.90 and a one year high of $302.05.

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

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, December 13th. Chubb’s payout ratio is 14.91%.

Insider Buying and Selling

In other news, insider John J. Lupica sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $29,676,685.50. This represents a 12.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 4.97 % 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 quarter. Company insiders own 0.86% of the company’s stock.

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.