Mainstay Capital Management LLC ADV Cuts Position in Chubb Limited (NYSE:CB)

Mainstay Capital Management LLC ADV lowered its position in Chubb Limited (NYSE:CB) by 10.5% in the third quarter, Holdings Channel reports. The fund owned 3,828 shares of the financial services provider’s stock after selling 451 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Chubb were worth $1,104,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CB. Bard Financial Services Inc. lifted its holdings in Chubb by 3.7% during the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock worth $293,000 after buying an additional 40 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Chubb by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Chubb by 1.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after buying an additional 40 shares during the last quarter. LVW Advisors LLC grew its position in shares of Chubb by 0.3% in the 3rd quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $3,390,000 after buying an additional 40 shares during the last quarter. Finally, Wealth Effects LLC boosted its stake in Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 40 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on CB shares. Bank of America boosted their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 target price on shares of Chubb in a report on Tuesday, October 15th. Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $282.37.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock valued at $24,874,208 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB stock opened at $293.95 on Friday. The company has a market cap of $119.36 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 5.87 and a beta of 0.66. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $286.43 and a 200-day moving average of $268.90. Chubb Limited has a 12-month low of $207.46 and a 12-month high of $302.05.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.92 earnings per share. As a group, equities analysts expect that Chubb Limited will post 21.32 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is currently 16.16%.

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.