Channing Capital Management LLC Sells 3,975 Shares of Chubb Limited (NYSE:CB)

Channing Capital Management LLC cut its position in shares of Chubb Limited (NYSE:CB) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,034 shares of the financial services provider’s stock after selling 3,975 shares during the period. Channing Capital Management LLC’s holdings in Chubb were worth $5,812,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Continuum Advisory LLC increased its holdings 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 buying an additional 35 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in Chubb in the third quarter valued at about $29,000. Raelipskie Partnership acquired a new position in Chubb in the third quarter worth about $29,000. Sierra Ocean LLC acquired a new position in Chubb in the fourth quarter worth about $29,000. Finally, Truvestments Capital LLC bought a new position in Chubb during the third quarter worth about $30,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction on 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

Chubb Stock Up 2.3 %

Shares of CB opened at $293.32 on Tuesday. The business’s fifty day moving average price is $272.37 and its two-hundred day moving average price is $280.50. The firm has a market capitalization of $117.45 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52 week low of $238.85 and a 52 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.

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

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s dividend payout ratio is 16.02%.

Analyst Ratings Changes

Several research firms have recently weighed in on CB. Barclays lowered their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $299.27.

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.