GUNN & Co INVESTMENT MANAGEMENT INC. Cuts Stock Position in Chubb Limited (NYSE:CB)

GUNN & Co INVESTMENT MANAGEMENT INC. decreased its holdings in Chubb Limited (NYSE:CB) by 92.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,143 shares of the financial services provider’s stock after selling 147,188 shares during the quarter. Chubb accounts for about 2.4% of GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings, making the stock its 15th biggest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Chubb were worth $3,502,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in Chubb in the 1st quarter valued at about $25,000. Beacon Capital Management LLC raised its holdings 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 in the last quarter. Chilton Capital Management LLC purchased a new position in Chubb in the second quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Chubb during the 2nd quarter worth approximately $28,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $295.00 on Thursday. The firm has a market cap of $119.79 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. Chubb Limited has a 1-year low of $207.46 and a 1-year high of $302.05. The firm’s fifty day moving average price is $286.43 and its 200 day moving average price is $268.90.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.92 earnings per share. On average, sell-side analysts expect that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is 16.16%.

Analyst Ratings Changes

A number of equities analysts recently commented on CB shares. William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Jefferies Financial Group upped their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Morgan Stanley cut their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on shares of Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $282.37.

Insider Transactions at Chubb

In related news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chubb news, 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 value of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 86,636 shares of company stock valued at $24,874,208. Corporate insiders own 0.86% of the company’s stock.

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.