Shikiar Asset Management Inc. Sells 1,735 Shares of Chubb Limited $CB

Shikiar Asset Management Inc. cut its stake in shares of Chubb Limited (NYSE:CB) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,700 shares of the financial services provider’s stock after selling 1,735 shares during the period. Shikiar Asset Management Inc.’s holdings in Chubb were worth $1,858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Berkshire Hathaway Inc grew its holdings in shares of Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares during the period. State Street Corp lifted its holdings in Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after acquiring an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after acquiring an additional 3,049,987 shares during the period. GQG Partners LLC boosted its position in Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after purchasing an additional 427,512 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Trading Down 0.8%

Chubb stock opened at $340.49 on Wednesday. The firm has a 50 day moving average of $325.62 and a 200 day moving average of $322.10. The firm has a market capitalization of $132.06 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.75 and a beta of 0.41. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion for the quarter. As a group, research analysts predict that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is 14.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Chubb from $372.00 to $362.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Wells Fargo & Company raised their price objective on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Mizuho decreased their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $349.10.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by insiders.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.