Canoe Financial LP Sells 668 Shares of Chubb Limited (NYSE:CB)

Canoe Financial LP cut its stake in Chubb Limited (NYSE:CB) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 149,627 shares of the financial services provider’s stock after selling 668 shares during the period. Canoe Financial LP’s holdings in Chubb were worth $41,342,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Chubb by 7.3% during the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after acquiring an additional 1,052,999 shares during the period. International Assets Investment Management LLC raised its holdings in Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after purchasing an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Chubb by 4,559.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares during the period. Troy Asset Management Ltd bought a new position in shares of Chubb in the 2nd quarter valued at about $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after buying an additional 389,343 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE CB opened at $269.38 on Friday. The company has a fifty day moving average price of $278.13 and a 200 day moving average price of $278.06. The firm has a market cap of $108.59 billion, a PE ratio of 11.03, a PEG ratio of 5.65 and a beta of 0.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1-year low of $226.74 and a 1-year high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the prior year, the firm earned $4.95 earnings per share. Chubb’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.93 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.35%. Chubb’s dividend payout ratio is currently 14.91%.

Wall Street Analyst Weigh In

CB has been the topic of several analyst reports. Evercore ISI increased their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Chubb from $294.00 to $296.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group lifted their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their target price on Chubb from $320.00 to $328.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $288.17.

Chubb Company 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.