Stonegate Investment Group LLC Lowers Stock Holdings in Chubb Limited (NYSE:CB)

Stonegate Investment Group LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 7.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 20,231 shares of the financial services provider’s stock after selling 1,537 shares during the period. Stonegate Investment Group LLC’s holdings in Chubb were worth $5,590,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CB. Continuum Advisory LLC grew its position in shares of Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Kozak & Associates Inc. bought a new position in Chubb during the third quarter valued at approximately $29,000. Gordian Capital Singapore Pte Ltd purchased a new position in Chubb during the 3rd quarter valued at approximately $29,000. Raelipskie Partnership bought a new stake in Chubb in the 3rd quarter worth approximately $29,000. Finally, Truvestments Capital LLC purchased a new stake in Chubb during the third quarter valued at $30,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 3.7 %

CB stock opened at $276.48 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s fifty day simple moving average is $276.24 and its 200-day simple moving average is $278.99. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $302.05. The company has a market capitalization of $111.45 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 7.23 and a beta of 0.67.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.95 EPS. As a group, equities research analysts forecast that Chubb Limited will post 21.95 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s dividend payout ratio is currently 14.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CB. Bank of America upped their price objective 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 stock a “market outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target 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 lowered their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Piper Sandler upped their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average target price of $288.17.

Chubb 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.