Chubb Limited $CB Shares Sold by Howland Capital Management LLC

Howland Capital Management LLC cut its stake in Chubb Limited (NYSE:CB) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,373 shares of the financial services provider’s stock after selling 1,718 shares during the period. Chubb accounts for about 1.1% of Howland Capital Management LLC’s portfolio, making the stock its 24th largest position. Howland Capital Management LLC’s holdings in Chubb were worth $30,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CB. Janney Montgomery Scott LLC grew its holdings in shares of Chubb by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after buying an additional 5,225 shares during the last quarter. Equitable Holdings Inc. acquired a new position in shares of Chubb in the 2nd quarter valued at $4,139,000. Berkshire Hathaway Inc purchased a new position in Chubb in the 2nd quarter worth $11,670,067,000. XXEC Inc. purchased a new position in Chubb in the 2nd quarter worth $26,210,000. Finally, Douglas Lane & Associates LLC grew its stake in Chubb by 2,748.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock valued at $152,084,000 after purchasing an additional 451,173 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb News Summary

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Third-quarter earnings beat expectations. Chubb reported $7.66 in earnings per share versus the $6.77 consensus estimate, while revenue of $16.20 billion exceeded forecasts of $15.71 billion. Record investment income and higher life-insurance income helped offset rising catastrophe losses. Chubb Q3 Earnings Beat Estimates on Investment and Life Income Growth
• Positive Sentiment: Underlying operating performance remained strong. Core operating income reached $2.98 billion, and Overseas General property and casualty premiums grew 6.7%, supporting the view that Chubb continues to generate solid underwriting and premium growth. Chubb: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Analyst sentiment improved modestly. Wells Fargo raised its price target to $366 from $343, and Zacks upgraded Chubb to a Rank #2, or Buy, reflecting greater confidence in the company’s earnings outlook. Wells Fargo Adjusts Chubb Price Target
• Neutral Sentiment: Other analysts raised targets but maintained cautious ratings. Deutsche Bank lifted its target to $361 from $354 while retaining a Hold rating, and Mizuho raised its target to $350 while keeping a Neutral rating. Deutsche Bank Adjusts Chubb Price Target
• Negative Sentiment: Valuation and limited upside remain concerns. Chubb’s consensus price target is $358.36, below the current trading level, while Cantor Fitzgerald maintains a $333 target and Barclays retains a Hold rating. Commentary also suggests the strong third-quarter results may already be reflected in the share price. Chubb Consensus Price Target

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CB shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $333.00 price objective on shares of Chubb in a report on Wednesday. Wells Fargo & Company lifted their target price on Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday. Morgan Stanley dropped their target price on Chubb from $360.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Barclays set a $387.00 price target on shares of Chubb in a report on Tuesday, July 7th. Finally, UBS Group raised their price target on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus price target of $360.95.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Connors sold 5,500 shares of Chubb stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $363.93 on Friday. The stock has a market cap of $140.40 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The business has a 50-day simple moving average of $341.45 and a 200-day simple moving average of $337.32. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.22. Chubb Limited has a 52-week low of $273.35 and a 52-week high of $365.91.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.71 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same period last year, the company earned $7.49 earnings per share. On average, equities analysts expect that Chubb Limited will post 27.72 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio is currently 14.43%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.