Princeton Global Asset Management LLC lessened its stake in Chubb Limited (NYSE:CB) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,214 shares of the financial services provider’s stock after selling 62 shares during the period. Princeton Global Asset Management LLC’s holdings in Chubb were worth $2,803,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Ballentine Partners LLC increased its position in Chubb by 2.0% in the 4th quarter. Ballentine Partners LLC now owns 3,422 shares of the financial services provider’s stock valued at $527,000 after acquiring an additional 66 shares during the period. NEXT Financial Group Inc increased its position in Chubb by 5.0% during the 4th quarter. NEXT Financial Group Inc now owns 1,402 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 67 shares during the period. Front Row Advisors LLC increased its position in Chubb by 21.5% during the 3rd quarter. Front Row Advisors LLC now owns 384 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 68 shares during the period. Norway Savings Bank increased its position in Chubb by 5.7% during the 4th quarter. Norway Savings Bank now owns 1,271 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 68 shares during the period. Finally, Nachman Norwood & Parrott Inc increased its position in Chubb by 2.1% during the 4th quarter. Nachman Norwood & Parrott Inc now owns 3,528 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 85.79% of the company’s stock.
Several research firms have issued reports on CB. Smith Barney Citigroup upgraded Chubb from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $138.00 to $176.00 in a research report on Tuesday, December 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Chubb from $135.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Barclays boosted their target price on Chubb from $173.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, February 4th. The Goldman Sachs Group upgraded Chubb from a “buy” rating to a “conviction-buy” rating in a report on Friday, January 8th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Chubb from a “neutral” rating to a “buy” rating and upped their price target for the stock from $138.00 to $176.00 in a report on Tuesday, December 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Chubb currently has an average rating of “Buy” and a consensus target price of $157.78.
CB stock traded up $0.16 on Tuesday, reaching $168.72. The company had a trading volume of 33,561 shares, compared to its average volume of 1,629,804. Chubb Limited has a 1 year low of $87.35 and a 1 year high of $169.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company’s fifty day moving average is $156.94 and its 200 day moving average is $139.84. The company has a market cap of $76.16 billion, a P/E ratio of 33.58, a PEG ratio of 1.36 and a beta of 0.67.
Chubb (NYSE:CB) last posted its earnings results on Monday, February 1st. The financial services provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.36. Chubb had a return on equity of 5.33% and a net margin of 6.24%. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.83 billion. During the same quarter in the prior year, the company earned $2.28 EPS. Chubb’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Chubb Limited will post 7.02 earnings per share for the current year.
Chubb announced that its board has approved a share repurchase program on Thursday, November 19th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 2.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Chubb news, COO John W. Keogh sold 23,432 shares of the stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $153.04, for a total transaction of $3,586,033.28. Following the transaction, the chief operating officer now owns 220,587 shares of the company’s stock, valued at approximately $33,758,634.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 17,321 shares of the stock in a transaction on Monday, December 7th. The stock was sold at an average price of $152.45, for a total value of $2,640,586.45. Following the transaction, the executive vice president now directly owns 185,465 shares in the company, valued at approximately $28,274,139.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,603 shares of company stock worth $8,151,275. Corporate insiders own 0.37% of the company’s stock.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, casualty, workers' compensation, package policies, risk management, professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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