Canoe Financial LP Sells 6,129 Shares of Chubb Limited (NYSE:CB)

Canoe Financial LP reduced its stake in Chubb Limited (NYSE:CB) by 3.9% during the 3rd quarter, Holdings Channel reports. The fund owned 150,295 shares of the financial services provider’s stock after selling 6,129 shares during the period. Canoe Financial LP’s holdings in Chubb were worth $43,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC bought a new position in Chubb in the 2nd quarter valued at about $963,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chubb by 16.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after purchasing an additional 10,745 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Chubb during the 1st quarter worth approximately $984,000. Leuthold Group LLC acquired a new position in shares of Chubb during the 1st quarter worth approximately $3,033,000. Finally, Private Advisor Group LLC grew its position in shares of Chubb by 21.2% during the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after purchasing an additional 2,250 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CB. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. JMP Securities restated a “market outperform” rating and set a $300.00 target price on shares of Chubb in a research report on Tuesday, October 15th. Piper Sandler increased their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $282.37.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were 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 owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 in the last quarter. Insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $287.99 on Monday. The company has a market cap of $116.94 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 5.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $287.15 and a 200 day simple moving average of $269.62. Chubb Limited has a one year low of $207.46 and a one year high of $302.05.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s payout ratio is 16.16%.

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.