Corbyn Investment Management Inc. MD Sells 117 Shares of Chubb Limited (NYSE:CB)

Corbyn Investment Management Inc. MD lessened its stake in Chubb Limited (NYSE:CB) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,428 shares of the financial services provider’s stock after selling 117 shares during the quarter. Chubb makes up approximately 2.0% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 18th biggest holding. Corbyn Investment Management Inc. MD’s holdings in Chubb were worth $4,165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Deutsche Bank AG raised its holdings in Chubb by 426.8% during the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after acquiring an additional 13,059,385 shares during the period. Lazard Asset Management LLC raised its holdings in Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after acquiring an additional 495,860 shares during the period. International Assets Investment Management LLC raised its holdings in Chubb by 19,454.2% during the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after acquiring an additional 482,854 shares during the period. Envestnet Asset Management Inc. raised its holdings in Chubb by 43.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider’s stock valued at $230,531,000 after acquiring an additional 334,970 shares during the period. Finally, Alphinity Investment Management Pty Ltd raised its holdings in Chubb by 155.8% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after acquiring an additional 324,019 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In related news, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now directly owns 6,105 shares in the company, valued at $1,495,969.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the transaction, the executive vice president now owns 35,662 shares in the company, valued at approximately $9,228,612.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Insiders sold 116,043 shares of company stock worth $29,766,694 over the last three months. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CB shares. Raymond James upped their price target on shares of Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Citigroup reaffirmed a “neutral” rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. Evercore ISI upped their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. BMO Capital Markets upped their target price on shares of Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, February 5th. Finally, The Goldman Sachs Group upped their price target on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.89.

Chubb Stock Up 0.1 %

Shares of NYSE CB traded up $0.21 during trading hours on Friday, hitting $246.17. 683,175 shares of the stock were exchanged, compared to its average volume of 1,737,123. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.20. The company has a market cap of $99.94 billion, a PE ratio of 10.92, a PEG ratio of 1.14 and a beta of 0.62. The firm has a fifty day moving average price of $252.44 and a 200-day moving average price of $235.28. Chubb Limited has a 12 month low of $183.71 and a 12 month high of $260.58.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.41 earnings per share. On average, sell-side analysts expect that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is 15.27%.

Chubb 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.