MetLife Investment Management LLC Trims Position in Chubb Limited (NYSE:CB)

MetLife Investment Management LLC trimmed its position in Chubb Limited (NYSE:CB) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,191 shares of the financial services provider’s stock after selling 10,094 shares during the quarter. MetLife Investment Management LLC’s holdings in Chubb were worth $28,317,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Beacon Capital Management LLC boosted its position in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in Chubb in the 1st quarter worth approximately $25,000. Kozak & Associates Inc. bought a new position in shares of Chubb in the 3rd quarter worth $29,000. Chilton Capital Management LLC purchased a new stake in shares of Chubb during the 2nd quarter valued at $26,000. Finally, Truvestments Capital LLC bought a new stake in shares of Chubb during the 3rd quarter worth $30,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CB shares. JMP Securities increased their target price on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Evercore ISI raised their price objective on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley upped 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. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $287.37.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,715 shares of company stock worth $23,803,540. Company insiders own 0.86% of the company’s stock.

Chubb Trading Up 0.5 %

Shares of Chubb stock traded up $1.55 during midday trading on Wednesday, reaching $290.03. 31,247 shares of the company’s stock traded hands, compared to its average volume of 1,597,345. The stock has a 50 day moving average of $287.32 and a 200-day moving average of $275.05. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The company has a market cap of $116.91 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 6.68 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last issued its quarterly earnings data 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. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.95 EPS. As a group, equities analysts expect 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. Shareholders of record on Friday, December 13th will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) 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.