Corbyn Investment Management Inc. MD Sells 1,851 Shares of Chubb Limited $CB

Corbyn Investment Management Inc. MD decreased its position in Chubb Limited (NYSE:CB) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,615 shares of the financial services provider’s stock after selling 1,851 shares during the quarter. Chubb accounts for approximately 1.3% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 25th biggest holding. Corbyn Investment Management Inc. MD’s holdings in Chubb were worth $3,945,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in shares of Chubb in the first quarter valued at approximately $31,000. 1248 Management LLC acquired a new stake in Chubb during the 1st quarter valued at $31,000. WPG Advisers LLC bought a new position in Chubb in the 1st quarter valued at $33,000. Maseco LLP acquired a new position in Chubb in the second quarter worth $35,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Chubb by 391.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 94 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CB. Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. HSBC raised their price objective on shares of Chubb from $302.00 to $304.00 in a research report on Wednesday, October 29th. Citigroup upped their target price on shares of Chubb from $326.00 to $331.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Wolfe Research raised their price target on shares of Chubb from $320.00 to $336.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $309.00 price objective on shares of Chubb in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chubb has an average rating of “Hold” and a consensus target price of $307.79.

Chubb Trading Up 1.4%

CB opened at $292.30 on Wednesday. The firm has a 50 day simple moving average of $279.37 and a 200 day simple moving average of $280.68. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a market cap of $115.04 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The firm had revenue of $14.87 billion during the quarter, compared to analyst estimates of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.72 EPS. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.3%. Chubb’s dividend payout ratio is presently 16.19%.

Insider Transactions at Chubb

In other news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. The trade was a 20.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.86% of the company’s stock.

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.