Townsquare Capital LLC lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 37.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,274 shares of the financial services provider's stock after acquiring an additional 2,511 shares during the quarter. Townsquare Capital LLC's holdings in Chubb were worth $2,675,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CB. Beacon Capital Management LLC increased its holdings in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 42 shares during the period. Kozak & Associates Inc. purchased a new position in shares of Chubb during the third quarter valued at approximately $29,000. Chilton Capital Management LLC bought a new position in shares of Chubb during the second quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new stake in Chubb in the third quarter worth $30,000. Finally, Kimelman & Baird LLC purchased a new stake in Chubb in the second quarter worth $32,000. Hedge funds and other institutional investors own 83.81% of the company's stock.
In other news, Director Michael G. Atieh sold 261 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company's stock, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 in the last ninety days. 0.86% of the stock is currently owned by company insiders.
Chubb stock opened at $288.73 on Friday. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The business's fifty day moving average is $287.30 and its 200 day moving average is $275.65. 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 stock has a market capitalization of $116.39 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 6.77 and a beta of 0.67.
Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter last year, the firm posted $4.95 EPS. The business's quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Chubb Limited will post 21.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb's dividend payout ratio is presently 14.91%.
Several brokerages have commented on CB. Bank of America upped their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an "underperform" rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Morgan Stanley upped their target price on Chubb from $295.00 to $300.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Chubb from $291.00 to $294.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price objective on Chubb from $305.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $287.37.
View Our Latest Stock Report on CB
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.
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