Lincoln National Corp Lowers Position in Chubb Limited (NYSE:CB)

Lincoln National Corp cut its stake in Chubb Limited (NYSE:CB – Get Rating) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,874 shares of the financial services provider’s stock after selling 231 shares during the period. Lincoln National Corp’s holdings in Chubb were worth $1,250,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Enterprise Trust & Investment Co bought a new stake in shares of Chubb during the second quarter valued at approximately $25,000. Heritage Financial Services LLC bought a new stake in Chubb in the 2nd quarter worth approximately $29,000. Crewe Advisors LLC bought a new stake in Chubb in the 2nd quarter worth approximately $32,000. Key Financial Inc grew its position in Chubb by 76.2% in the 2nd quarter. Key Financial Inc now owns 178 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 77 shares during the period. Finally, FinTrust Capital Advisors LLC grew its position in Chubb by 36.9% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 215 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 58 shares during the period. 87.12% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Up 2.1 %

Shares of NYSE CB opened at $228.35 on Wednesday. The firm’s 50-day moving average price is $218.80 and its 200-day moving average price is $202.25. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $94.78 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.28 and a beta of 0.68. Chubb Limited has a 12-month low of $173.78 and a 12-month high of $230.27.

Chubb (NYSE:CB – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.15. The business had revenue of $10.75 billion during the quarter, compared to analysts’ expectations of $10.71 billion. Chubb had a net margin of 14.70% and a return on equity of 11.89%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.64 earnings per share. On average, equities research analysts anticipate that Chubb Limited will post 15.41 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 16th were given a $0.83 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $3.32 annualized dividend and a dividend yield of 1.45%. Chubb’s dividend payout ratio (DPR) is 23.15%.

Insider Activity

In other news, CEO Evan G. Greenberg sold 24,049 shares of Chubb stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $207.91, for a total value of $5,000,027.59. Following the sale, the chief executive officer now owns 570,622 shares in the company, valued at $118,638,020.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider John J. Lupica sold 19,051 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $218.59, for a total value of $4,164,358.09. Following the transaction, the insider now directly owns 131,502 shares of the company’s stock, valued at $28,745,022.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 24,049 shares of Chubb stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $207.91, for a total transaction of $5,000,027.59. Following the transaction, the chief executive officer now directly owns 570,622 shares in the company, valued at $118,638,020.02. The disclosure for this sale can be found here. Insiders have sold a total of 70,786 shares of company stock worth $14,975,790 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CB. StockNews.com began coverage on shares of Chubb in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup boosted their price objective on shares of Chubb from $209.00 to $229.00 in a research report on Wednesday, November 16th. Barclays lifted their target price on shares of Chubb to $255.00 in a research note on Thursday, October 27th. Piper Sandler lifted their target price on shares of Chubb from $225.00 to $230.00 in a research note on Tuesday, January 10th. Finally, Wells Fargo & Company lifted their target price on shares of Chubb from $250.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb has an average rating of “Moderate Buy” and an average target price of $242.33.

Chubb Company Profile

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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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.