Shikiar Asset Management Inc. Sells 4,195 Shares of Chubb Limited (NYSE:CB)

Shikiar Asset Management Inc. trimmed its holdings in Chubb Limited (NYSE:CB - Free Report) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,876 shares of the financial services provider's stock after selling 4,195 shares during the quarter. Chubb comprises approximately 2.8% of Shikiar Asset Management Inc.'s portfolio, making the stock its 11th largest holding. Shikiar Asset Management Inc.'s holdings in Chubb were worth $10,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Research Global Investors boosted its position in shares of Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider's stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors grew its stake in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider's stock valued at $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Chubb during the 1st quarter worth about $165,932,000. Lazard Asset Management LLC boosted its holdings in Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider's stock valued at $918,294,000 after acquiring an additional 457,881 shares during the period. Finally, Troy Asset Management Ltd acquired a new position in Chubb in the 2nd quarter valued at about $106,975,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Chubb from $260.00 to $259.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 10th. Barclays started coverage on Chubb in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $349.00 price objective on the stock. Roth Mkm boosted their target price on Chubb from $280.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Bank of America lifted their price objective on Chubb from $275.00 to $282.00 and gave the company an "underperform" rating in a research note on Thursday. Finally, Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, October 4th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Chubb has a consensus rating of "Hold" and a consensus target price of $282.37.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Evan G. Greenberg sold 30,537 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now owns 583,982 shares of the company's stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 86,636 shares of company stock valued at $24,874,208. Company insiders own 0.86% of the company's stock.

Chubb Price Performance

Chubb stock traded up $2.13 during mid-day trading on Friday, reaching $286.83. The company had a trading volume of 798,974 shares, compared to its average volume of 1,625,146. The stock's 50-day simple moving average is $282.13 and its 200-day simple moving average is $266.72. Chubb Limited has a 1 year low of $205.64 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $116.47 billion, a P/E ratio of 12.73, a P/E/G ratio of 5.87 and a beta of 0.66.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts' consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analysts' expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.92 EPS. On average, equities analysts predict that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. Chubb's dividend payout ratio (DPR) is 16.16%.

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.