Okabena Investment Services Inc. Sells 1,400 Shares of Chubb Limited (NYSE:CB)

Okabena Investment Services Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 44.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,747 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. Okabena Investment Services Inc.’s holdings in Chubb were worth $504,000 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 the business. Wellington Shields & Co. LLC bought a new position in shares of Chubb in the first quarter worth about $94,000. 1832 Asset Management L.P. increased its holdings in Chubb by 9.0% in the 1st quarter. 1832 Asset Management L.P. now owns 15,393 shares of the financial services provider’s stock worth $3,989,000 after acquiring an additional 1,270 shares in the last quarter. Ascent Group LLC raised its stake in Chubb by 382.6% during the 1st quarter. Ascent Group LLC now owns 6,182 shares of the financial services provider’s stock worth $1,602,000 after acquiring an additional 4,901 shares during the period. Paloma Partners Management Co purchased a new position in Chubb during the first quarter valued at approximately $1,190,000. Finally, Waverly Advisors LLC boosted its position in shares of Chubb by 237.1% in the first quarter. Waverly Advisors LLC now owns 5,232 shares of the financial services provider’s stock worth $1,356,000 after purchasing an additional 3,680 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Bank of America lifted their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, JMP Securities upped their price target on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $287.37.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 4.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael G. Atieh sold 261 shares of Chubb 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 sale, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is currently owned by company insiders.

Chubb Trading Up 0.0 %

CB opened at $285.21 on Friday. The stock has a 50-day moving average of $287.46 and a 200 day moving average of $274.42. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The firm has a market cap of $114.97 billion, a P/E ratio of 11.68, a P/E/G ratio of 6.65 and a beta of 0.67.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.74. The business had revenue of $13.83 billion during 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% on a year-over-year basis. During the same period last year, the company earned $4.95 EPS. As a group, research analysts forecast that Chubb Limited will post 21.77 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is currently 14.91%.

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.