Prudential Financial Inc. Sells 17,226 Shares of Chubb Limited (NYSE:CB)

Prudential Financial Inc. cut its position in Chubb Limited (NYSE:CB) by 26.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,112 shares of the financial services provider’s stock after selling 17,226 shares during the period. Prudential Financial Inc.’s holdings in Chubb were worth $13,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CB. Continuum Advisory LLC raised its stake in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 35 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Chubb in the third quarter worth about $29,000. Raelipskie Partnership bought a new stake in shares of Chubb in the third quarter valued at approximately $29,000. Sierra Ocean LLC purchased a new stake in shares of Chubb during the 4th quarter valued at approximately $29,000. Finally, Crowley Wealth Management Inc. bought a new position in Chubb in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares in the company, valued at $170,321,922.75. This trade represents a 4.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock valued at $18,562,730 over the last quarter. 0.86% of the stock is owned by corporate insiders.

Chubb Stock Performance

Chubb stock opened at $298.71 on Friday. Chubb Limited has a fifty-two week low of $238.85 and a fifty-two week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a market cap of $119.61 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The firm’s fifty day moving average price is $278.72 and its 200-day moving average price is $281.47.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.22%. Chubb’s payout ratio is 16.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CB shares. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and a consensus price target of $301.00.

Chubb Profile

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.