Shikiar Asset Management Inc. Sells 1,735 Shares of Chubb Limited $CB

Shikiar Asset Management Inc. lessened its holdings in shares of Chubb Limited (NYSE:CB) by 23.3% during the 1st quarter, Holdings Channel reports. The firm owned 5,700 shares of the financial services provider’s stock after selling 1,735 shares during the period. Shikiar Asset Management Inc.’s holdings in Chubb were worth $1,858,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CB. Spire Wealth Management boosted its holdings in shares of Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock valued at $2,689,000 after purchasing an additional 7,156 shares during the last quarter. Chesley Taft & Associates LLC increased its holdings in shares of Chubb by 7.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock worth $31,970,000 after purchasing an additional 7,043 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Chubb by 42.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock worth $4,446,000 after buying an additional 4,233 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Chubb by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after buying an additional 5,225 shares in the last quarter. Finally, waypoint wealth counsel boosted its stake in Chubb by 76.4% during the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock valued at $1,285,000 after buying an additional 1,784 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CB has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $315.00 price objective on shares of Chubb in a report on Wednesday, April 22nd. Piper Sandler increased their target price on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Finally, Evercore boosted their price target on shares of Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $349.10.

Chubb Trading Down 0.8%

CB opened at $340.49 on Wednesday. The stock has a 50-day moving average of $325.62 and a 200 day moving average of $322.10. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm has a market cap of $132.06 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.75 and a beta of 0.41.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The business had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, research analysts forecast that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio is presently 14.41%.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.