Shikiar Asset Management Inc. Sells 3,345 Shares of Chubb Limited (NYSE:CB)

Shikiar Asset Management Inc. cut its stake in Chubb Limited (NYSE:CB) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,531 shares of the financial services provider’s stock after selling 3,345 shares during the period. Chubb accounts for 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 11th largest holding. Shikiar Asset Management Inc.’s holdings in Chubb were worth $9,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC lifted its stake in shares of Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 35 shares during the period. Kozak & Associates Inc. acquired a new position in shares of Chubb during the third quarter valued at about $29,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Chubb during the 3rd quarter worth about $29,000. Raelipskie Partnership acquired a new stake in Chubb in the third quarter valued at approximately $29,000. Finally, Truvestments Capital LLC acquired a new position in shares of Chubb during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $294.00 to $296.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. JMP Securities boosted their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $288.17.

Chubb Stock Performance

Shares of CB stock opened at $269.38 on Friday. The stock has a market capitalization of $108.59 billion, a P/E ratio of 11.03, a PEG ratio of 5.65 and a beta of 0.67. Chubb Limited has a 12 month low of $226.74 and a 12 month high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $278.13 and its 200 day moving average is $278.06.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS 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 business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter last year, the company earned $4.95 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Chubb Limited will post 21.93 earnings per share for the current year.

Chubb Announces Dividend

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

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.