Chubb Limited (NYSE:CB) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in Chubb Limited (NYSE:CB) by 20.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,652 shares of the financial services provider’s stock after selling 29,248 shares during the period. M&T Bank Corp’s holdings in Chubb were worth $32,199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Continuum Advisory LLC grew its position in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares during the last quarter. Kozak & Associates Inc. bought a new position in Chubb in the 3rd quarter worth approximately $29,000. Gordian Capital Singapore Pte Ltd bought a new position in Chubb in the 3rd quarter worth approximately $29,000. Raelipskie Partnership acquired a new stake in Chubb in the 3rd quarter valued at approximately $29,000. Finally, Chilton Capital Management LLC bought a new stake in Chubb during the 2nd quarter valued at $26,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

CB opened at $273.20 on Friday. The firm has a market capitalization of $110.13 billion, a P/E ratio of 11.19, a PEG ratio of 6.43 and a beta of 0.67. The stock has a fifty day moving average of $284.63 and a 200-day moving average of $277.10. The company has a quick ratio of 0.28, a current 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.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (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 firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the prior year, the business earned $4.95 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed 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. This represents a $3.64 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, December 13th. Chubb’s payout ratio is presently 14.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CB. Barclays began coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Evercore ISI upped their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average price target of $287.37.

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.