Loeb Partners Corp Trims Position in Chubb Ltd (CB)
Loeb Partners Corp lowered its holdings in Chubb Ltd (NYSE:CB) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,100 shares of the financial services provider’s stock after selling 6,000 shares during the quarter. Loeb Partners Corp’s holdings in Chubb were worth $3,375,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Welch Group LLC acquired a new stake in Chubb in the 4th quarter valued at $110,000. Atlantic Trust LLC purchased a new position in Chubb during the 2nd quarter worth $116,000. Horan Capital Advisors LLC. purchased a new position in Chubb during the 3rd quarter worth $133,000. Zions Bancorporation boosted its holdings in Chubb by 716.3% during the 3rd quarter. Zions Bancorporation now owns 1,151 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Boltwood Capital Management purchased a new position in Chubb during the 4th quarter worth $201,000. 88.54% of the stock is owned by institutional investors and hedge funds.
In related news, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $151.22, for a total value of $2,814,355.42. Following the sale, the insider now directly owns 201,165 shares in the company, valued at approximately $30,420,171.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $145.56, for a total value of $13,938,971.16. Following the completion of the sale, the chief executive officer now owns 1,367,229 shares in the company, valued at $199,013,853.24. The disclosure for this sale can be found here. Insiders have sold a total of 143,102 shares of company stock worth $21,103,049 over the last quarter. Company insiders own 0.43% of the company’s stock.
Shares of Chubb Ltd (NYSE CB) opened at $147.52 on Thursday. The company has a market capitalization of $67,720.71, a price-to-earnings ratio of 17.99, a PEG ratio of 1.36 and a beta of 0.95. Chubb Ltd has a 52 week low of $130.17 and a 52 week high of $157.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.29.
Chubb (NYSE:CB) last released its earnings results on Tuesday, January 30th. The financial services provider reported $3.17 EPS for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.86. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.72 EPS. research analysts predict that Chubb Ltd will post 10.76 earnings per share for the current fiscal year.
Chubb announced that its Board of Directors has initiated a share buyback plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, December 28th. Chubb’s payout ratio is 34.63%.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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