Cigna Investments Inc. New Sells 167 Shares of Chubb Limited (NYSE:CB)

Cigna Investments Inc. New trimmed its position in Chubb Limited (NYSE:CB) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,093 shares of the financial services provider’s stock after selling 167 shares during the quarter. Cigna Investments Inc. New’s holdings in Chubb were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CB. ORG Partners LLC purchased a new stake in Chubb during the second quarter valued at $963,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after purchasing an additional 10,745 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Chubb in the 1st quarter worth approximately $984,000. Leuthold Group LLC bought a new position in shares of Chubb during the 1st quarter valued at approximately $3,033,000. Finally, Private Advisor Group LLC increased its position in shares of Chubb by 21.2% during the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after purchasing an additional 2,250 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on 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 sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’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 transaction of $1,070,668.26. Following the sale, the executive vice president now directly 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 quarter, insiders sold 86,636 shares of company stock worth $24,874,208. Insiders own 0.86% of the company’s stock.

Chubb Trading Down 0.4 %

Shares of NYSE CB opened at $282.44 on Friday. Chubb Limited has a 1-year low of $212.82 and a 1-year high of $302.05. The business has a fifty day moving average price of $288.20 and a 200 day moving average price of $270.41. The stock has a market capitalization of $114.15 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.31.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.93 by $0.79. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the prior year, the firm posted $4.95 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is presently 14.91%.

Analyst Ratings Changes

Several research firms have commented on CB. Royal Bank of Canada lifted their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JMP Securities lifted their price target on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Evercore ISI increased their price objective on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on Chubb from $269.00 to $266.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Piper Sandler increased their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Two research 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.com, the company presently has an average rating of “Hold” and an average target price of $286.47.

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.