Hi Line Capital Management LLC Has $8.34 Million Holdings in Chubb Limited (NYSE:CB)

01 Nov 2024, 12:56 by Jessica Moore · The Cerbat Gem

Hi Line Capital Management LLC decreased its stake in Chubb Limited (NYSE:CB – Free Report) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,818 shares of the financial services provider’s stock after selling 6,445 shares during the period. Chubb accounts for approximately 4.1% of Hi Line Capital Management LLC’s holdings, making the stock its 9th largest position. Hi Line Capital Management LLC’s holdings in Chubb were worth $8,337,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Beacon Capital Management LLC lifted its stake in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Chubb in the 1st quarter valued at about $25,000. Kozak & Associates Inc. acquired a new stake in Chubb in the 3rd quarter valued at about $29,000. Chilton Capital Management LLC acquired a new stake in Chubb in the 2nd quarter valued at about $26,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in Chubb in the 1st quarter valued at about $29,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI raised their price objective on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price objective on shares of Chubb from $269.00 to $266.00 and set an “equal weight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $286.47.

Get Our Latest Stock Analysis on Chubb

Chubb Stock Performance

Shares of NYSE:CB opened at $282.44 on Friday. The company’s 50 day simple moving average is $288.20 and its 200 day simple moving average is $270.41. The stock has a market capitalization of $114.15 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.31. Chubb Limited has a 1 year low of $212.82 and a 1 year high of $302.05.

Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $4.95 earnings per share. As a group, research analysts predict that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. Chubb’s payout ratio is presently 14.91%.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by insiders.

About Chubb

(Free Report)

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.