Citigroup Inc. Sells 4,289 Shares of Chubb Limited (NYSE:CB)

Citigroup Inc. cut its stake in shares of Chubb Limited (NYSE:CB) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 404,901 shares of the financial services provider’s stock after selling 4,289 shares during the period. Citigroup Inc.’s holdings in Chubb were worth $116,769,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $963,000. Moloney Securities Asset Management LLC raised its stake in shares of Chubb by 97.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 1,905 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 2,250 shares during the last quarter. Raymond James & Associates grew its position in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after buying an additional 87,059 shares during the period. Finally, Savvy Advisors Inc. purchased a new stake in Chubb during the third quarter worth about $721,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. 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. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Wells Fargo & Company upped their price target on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, JMP Securities lifted their price objective on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned 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.com, the company currently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Stock Up 0.0 %

Shares of NYSE:CB opened at $285.21 on Friday. The firm has a fifty day moving average price of $287.46 and a two-hundred day moving average price of $274.26. The company has a market cap of $114.97 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 6.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a one year low of $216.90 and a one year high of $302.05.

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 company 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 firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $4.95 earnings per share. Analysts anticipate that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s payout ratio is 14.91%.

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.