Cannell & Spears LLC Reduces Stake in Chubb Limited (NYSE:CB)

Cannell & Spears LLC lowered its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 311,060 shares of the financial services provider's stock after selling 30,100 shares during the period. Chubb makes up approximately 1.8% of Cannell & Spears LLC's portfolio, making the stock its 9th biggest holding. Cannell & Spears LLC owned about 0.08% of Chubb worth $85,946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. Wealth Enhancement Advisory Services LLC increased its stake in Chubb by 57.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider's stock valued at $102,840,000 after buying an additional 130,629 shares during the last quarter. Czech National Bank grew its holdings in shares of Chubb by 6.2% in the fourth quarter. Czech National Bank now owns 81,282 shares of the financial services provider's stock valued at $22,458,000 after acquiring an additional 4,757 shares in the last quarter. Barclays PLC increased its position in shares of Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider's stock valued at $511,226,000 after acquiring an additional 388,746 shares during the last quarter. Weiss Asset Management LP bought a new stake in Chubb during the third quarter worth $27,424,000. Finally, Versant Capital Management Inc boosted its position in Chubb by 133.9% in the fourth quarter. Versant Capital Management Inc now owns 552 shares of the financial services provider's stock worth $153,000 after purchasing an additional 316 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Shares of CB traded down $15.10 during trading hours on Friday, reaching $287.36. 1,048,336 shares of the company's stock traded hands, compared to its average volume of 1,792,454. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $115.06 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The firm's 50 day simple moving average is $281.97 and its 200-day simple moving average is $281.88.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. Chubb's dividend payout ratio is presently 16.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Chubb from $296.00 to $300.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Piper Sandler boosted their target price on shares of Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday. JMP Securities reissued a "market outperform" rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Barclays lowered their price target on shares of Chubb from $349.00 to $324.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $303.14.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares of the company's stock, valued at approximately $8,644,927.28. This represents a 33.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock worth $18,562,730 over the last 90 days. Corporate 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.