Cooke & Bieler LP Cuts Stake in Chubb Limited $CB

Cooke & Bieler LP lowered its position in shares of Chubb Limited (NYSE:CB) by 9.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 499,774 shares of the financial services provider’s stock after selling 52,400 shares during the period. Chubb makes up about 1.4% of Cooke & Bieler LP’s portfolio, making the stock its 26th biggest position. Cooke & Bieler LP’s holdings in Chubb were worth $144,795,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Balentine LLC increased its position in Chubb by 7.5% during the 2nd quarter. Balentine LLC now owns 850 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 59 shares during the period. Crescent Sterling Ltd. increased its holdings in Chubb by 48.9% during the second quarter. Crescent Sterling Ltd. now owns 2,064 shares of the financial services provider’s stock valued at $598,000 after buying an additional 678 shares during the period. Syverson Strege & Co purchased a new position in Chubb during the second quarter valued at approximately $296,000. AlphaStar Capital Management LLC increased its holdings in shares of Chubb by 13.1% in the 2nd quarter. AlphaStar Capital Management LLC now owns 5,872 shares of the financial services provider’s stock valued at $1,701,000 after acquiring an additional 678 shares during the period. Finally, Earned Wealth Advisors LLC grew its stake in Chubb by 11.0% in the second quarter. Earned Wealth Advisors LLC now owns 1,183 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Chubb stock opened at $277.13 on Friday. The company has a market capitalization of $109.07 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.27. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company’s 50 day simple moving average is $277.80 and its 200-day simple moving average is $280.67.

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

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s payout ratio is currently 16.19%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CB shares. Morgan Stanley dropped their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Wells Fargo & Company upped their price target on shares of Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Evercore ISI upped their price objective on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. BMO Capital Markets reiterated a “market perform” rating and set a $283.00 price target on shares of Chubb in a research report on Thursday, October 23rd. Finally, HSBC increased their price objective on shares of Chubb from $302.00 to $304.00 in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average price target of $307.79.

Insider Activity

In other Chubb news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the sale, the insider directly owned 90,600 shares in the company, valued at $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.77% 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.