Chubb Limited (NYSE:CB) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Chubb Limited (NYSE:CB) by 44.0% during the fourth quarter, HoldingsChannel reports. The firm owned 57,789 shares of the financial services provider’s stock after selling 45,335 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chubb were worth $15,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CB. Raymond James Financial Inc. purchased a new stake in shares of Chubb during the fourth quarter valued at $1,158,897,000. FMR LLC lifted its position in Chubb by 7.3% during the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after acquiring an additional 1,052,999 shares during the period. Proficio Capital Partners LLC grew its stake in Chubb by 41,494.7% during the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after purchasing an additional 810,807 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Chubb by 49.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock valued at $338,070,000 after purchasing an additional 389,343 shares during the period. Finally, Barclays PLC raised its stake in shares of Chubb by 28.1% in the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after purchasing an additional 388,746 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 1.6 %

Shares of CB opened at $288.57 on Friday. The firm has a market cap of $115.55 billion, a P/E ratio of 12.70, a PEG ratio of 3.36 and a beta of 0.66. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $302.05. The stock’s 50 day moving average is $273.14 and its two-hundred day moving average is $280.69. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) is presently 16.02%.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares in the company, valued at $170,321,922.75. The trade was a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $299.27.

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.