Baker Avenue Asset Management LP Sells 68 Shares of Chubb Limited (NYSE:CB)

Baker Avenue Asset Management LP decreased its stake in shares of Chubb Limited (NYSE:CB) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,140 shares of the financial services provider’s stock after selling 68 shares during the period. Baker Avenue Asset Management LP’s holdings in Chubb were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sierra Ocean LLC bought a new position in Chubb during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb during the fourth quarter worth about $29,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb during the fourth quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Finally, Human Investing LLC bought a new stake in Chubb in the 4th quarter valued at approximately $36,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now directly owns 78,422 shares in the company, valued at approximately $23,120,374.04. The trade was a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This trade represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,470 shares of company stock worth $18,562,730. Corporate insiders own 0.77% of the company’s stock.

Chubb Stock Up 0.2 %

Shares of CB opened at $287.83 on Tuesday. The firm has a market cap of $115.34 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a 52 week low of $249.90 and a 52 week high of $306.91. The firm’s 50-day simple moving average is $288.11 and its 200 day simple moving average is $280.75.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.91 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s payout ratio is presently 17.52%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Piper Sandler raised their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Barclays dropped their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods decreased their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.86.

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.