Associated Banc Corp Trims Stock Position in Chubb Limited (NYSE:CB)

Associated Banc Corp cut its holdings in Chubb Limited (NYSE:CB) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,725 shares of the financial services provider’s stock after selling 41 shares during the period. Associated Banc Corp’s holdings in Chubb were worth $497,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new position in Chubb during the 2nd quarter valued at about $963,000. Moloney Securities Asset Management LLC lifted its holdings in Chubb by 97.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 1,905 shares in the last quarter. Private Advisor Group LLC boosted its position in Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after buying an additional 2,250 shares during the period. Raymond James & Associates grew its stake in shares of Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after acquiring an additional 87,059 shares in the last quarter. Finally, Savvy Advisors Inc. purchased a new stake in shares of Chubb during the third quarter worth $721,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CB has been the subject of a number of recent research reports. Evercore ISI lifted their target price on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group boosted their target price on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America increased their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Stock Performance

Shares of CB opened at $286.41 on Tuesday. 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 12-month low of $216.90 and a 12-month high of $302.05. The stock has a market cap of $115.45 billion, a P/E ratio of 11.73, a PEG ratio of 6.65 and a beta of 0.67. The company has a 50-day moving average of $287.37 and a two-hundred day moving average of $274.81.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.95 EPS. As a group, research analysts predict that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. Chubb’s dividend payout ratio (DPR) is currently 14.91%.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 82,715 shares of company stock valued at $23,803,540. Company insiders own 0.86% of the company’s stock.

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.