Healthcare of Ontario Pension Plan Trust Fund Sells 227,300 Shares of Chubb Limited (NYSE:CB)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Chubb Limited (NYSE:CB) by 49.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 236,000 shares of the financial services provider’s stock after selling 227,300 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Chubb worth $68,060,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Townsquare Capital LLC boosted its stake in shares of Chubb by 37.1% in the 3rd quarter. Townsquare Capital LLC now owns 9,274 shares of the financial services provider’s stock valued at $2,675,000 after purchasing an additional 2,511 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its stake in shares of Chubb by 299.6% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 939 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 704 shares during the last quarter. Avestar Capital LLC boosted its stake in shares of Chubb by 5.2% in the 3rd quarter. Avestar Capital LLC now owns 2,812 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 140 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Chubb by 8.8% in the 3rd quarter. Brooklyn Investment Group now owns 2,349 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 190 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Chubb by 0.4% in the 3rd quarter. D.A. Davidson & CO. now owns 235,262 shares of the financial services provider’s stock valued at $67,847,000 after purchasing an additional 934 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler increased their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Jefferies Financial Group increased their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Bank of America increased their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Finally, JMP Securities increased their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $287.37.

Insider Buying and Selling

In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 261 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,715 shares of company stock valued at $23,803,540 over the last quarter. 0.86% of the stock is owned by company insiders.

Chubb Trading Up 0.7 %

CB opened at $288.51 on Wednesday. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The company has a 50-day simple moving average of $287.32 and a 200 day simple moving average of $275.05. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $116.30 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 6.68 and a beta of 0.67.

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

Chubb Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s dividend payout ratio is 14.91%.

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.