Virtus Investment Advisers LLC Trims Holdings in Chubb Limited $CB

Virtus Investment Advisers LLC lowered its holdings in Chubb Limited (NYSE:CB) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,964 shares of the financial services provider’s stock after selling 252 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Chubb were worth $1,438,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. E Fund Management Co. Ltd. increased its position in Chubb by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 36 shares during the period. Rise Advisors LLC boosted its stake in shares of Chubb by 4.6% during the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 37 shares in the last quarter. Sky Investment Group LLC increased its position in shares of Chubb by 1.6% during the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider’s stock valued at $694,000 after buying an additional 38 shares during the period. Evermay Wealth Management LLC raised its stake in Chubb by 2.3% in the second quarter. Evermay Wealth Management LLC now owns 1,684 shares of the financial services provider’s stock worth $489,000 after buying an additional 38 shares in the last quarter. Finally, Lincoln Capital LLC lifted its holdings in Chubb by 0.6% in the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider’s stock worth $2,022,000 after buying an additional 39 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 850 shares of Chubb stock in a transaction on Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the completion of the sale, the executive vice president owned 1,585 shares of the company’s stock, valued at $467,876.15. The trade was a 34.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John J. Lupica sold 16,375 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $296.45, for a total value of $4,854,368.75. Following the completion of the transaction, the insider directly owned 74,225 shares in the company, valued at approximately $22,004,001.25. This represents a 18.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 57,333 shares of company stock valued at $16,629,873. Company insiders own 0.77% of the company’s stock.

Chubb Stock Up 0.1%

Chubb stock opened at $297.93 on Friday. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock has a fifty day simple moving average of $284.09 and a two-hundred day simple moving average of $281.55. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market cap of $117.25 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.74 and a beta of 0.58.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping the consensus estimate of $5.51 by $1.98. The company had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.Chubb’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company earned $5.72 EPS. Equities analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. Chubb’s dividend payout ratio is 16.19%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CB. Hsbc Global Res lowered Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Bank of America raised their price objective on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research report on Monday, October 13th. Barclays upped their price objective on shares of Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. UBS Group raised their target price on shares of Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Finally, Jefferies Financial Group upped their price target on Chubb from $297.00 to $302.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $308.11.

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.