Industrial Alliance Investment Management Inc. Sells 22,083 Shares of Chubb Limited (NYSE:CB)

Industrial Alliance Investment Management Inc. decreased its holdings in shares of Chubb Limited (NYSE:CB – Get Rating) by 43.2% in the third quarter, Holdings Channel reports. The firm owned 28,999 shares of the financial services provider’s stock after selling 22,083 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Chubb were worth $5,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Carolinas Wealth Consulting LLC increased its stake in Chubb by 10.1% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 555 shares of the financial services provider’s stock valued at $119,000 after buying an additional 51 shares during the last quarter. Fiduciary Group LLC increased its stake in Chubb by 3.4% in the 2nd quarter. Fiduciary Group LLC now owns 1,589 shares of the financial services provider’s stock valued at $308,000 after buying an additional 52 shares during the last quarter. Linscomb & Williams Inc. increased its stake in Chubb by 3.0% in the 2nd quarter. Linscomb & Williams Inc. now owns 1,814 shares of the financial services provider’s stock valued at $357,000 after buying an additional 52 shares during the last quarter. Unison Advisors LLC increased its stake in Chubb by 0.4% in the 3rd quarter. Unison Advisors LLC now owns 13,016 shares of the financial services provider’s stock valued at $2,378,000 after buying an additional 52 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in Chubb by 2.6% in the 3rd quarter. Penserra Capital Management LLC now owns 2,034 shares of the financial services provider’s stock valued at $369,000 after buying an additional 52 shares during the last quarter. Institutional investors own 87.12% of the company’s stock.

Chubb Stock Down 3.4 %

Shares of CB opened at $187.40 on Thursday. Chubb Limited has a 52 week low of $173.78 and a 52 week high of $231.37. The firm has a market cap of $77.49 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.14 and a beta of 0.66. The firm’s 50-day simple moving average is $214.76 and its 200 day simple moving average is $207.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35.

Chubb (NYSE:CB – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $4.05 EPS for the quarter, missing analysts’ consensus estimates of $4.22 by ($0.17). Chubb had a net margin of 12.35% and a return on equity of 12.51%. The company had revenue of $11.43 billion during the quarter, compared to analyst estimates of $11.58 billion. During the same quarter last year, the company posted $3.81 EPS. On average, analysts forecast that Chubb Limited will post 17.4 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Friday, March 17th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, March 16th. Chubb’s dividend payout ratio is currently 26.52%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CB. Barclays lowered their price target on shares of Chubb from $258.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, February 2nd. Jefferies Financial Group lowered shares of Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $241.00 to $246.00 in a research note on Monday, January 9th. Morgan Stanley boosted their price objective on shares of Chubb from $216.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 22nd. Piper Sandler boosted their price objective on shares of Chubb from $225.00 to $230.00 in a research note on Tuesday, January 10th. Finally, Citigroup lowered their price objective on shares of Chubb from $236.00 to $229.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.36.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 23,871 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total value of $5,064,948.78. Following the completion of the sale, the chief operating officer now owns 272,062 shares of the company’s stock, valued at approximately $57,726,115.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

About Chubb

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Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.