Chubb Limited (NYSE:CB) Shares Sold by Hexagon Capital Partners LLC

Posted by Defense World Staff on Mar 24th, 2023

Hexagon Capital Partners LLC reduced its position in shares of Chubb Limited (NYSE:CB – Get Rating) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 473 shares of the financial services provider’s stock after selling 104 shares during the period. Hexagon Capital Partners LLC’s holdings in Chubb were worth $104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. Los Angeles Capital Management LLC increased its position in Chubb by 99.9% during the third quarter. Los Angeles Capital Management LLC now owns 870,209 shares of the financial services provider’s stock worth $158,274,000 after purchasing an additional 434,799 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its position in Chubb by 57.6% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,186,647 shares of the financial services provider’s stock worth $215,827,000 after purchasing an additional 433,479 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Chubb by 507.5% during the third quarter. Assenagon Asset Management S.A. now owns 451,115 shares of the financial services provider’s stock worth $82,049,000 after buying an additional 376,859 shares during the period. Great West Life Assurance Co. Can purchased a new position in Chubb during the third quarter worth about $64,747,000. Finally, Bank of New York Mellon Corp boosted its stake in Chubb by 6.8% during the third quarter. Bank of New York Mellon Corp now owns 5,282,359 shares of the financial services provider’s stock worth $960,755,000 after buying an additional 338,463 shares during the period. 87.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. Barclays lowered their target price on shares of Chubb from $258.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, February 2nd. JPMorgan Chase & Co. raised shares of Chubb from a “neutral” rating to an “overweight” rating and set a $239.00 target price for the company in a research note on Friday, March 17th. Jefferies Financial Group lowered shares of Chubb from a “buy” rating to a “hold” rating and increased their target price for the stock from $241.00 to $246.00 in a research note on Monday, January 9th. BMO Capital Markets began coverage on shares of Chubb in a research note on Thursday, January 19th. They set a “market perform” rating and a $225.00 target price for the company. Finally, Royal Bank of Canada raised their price objective on shares of Chubb from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, December 14th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.92.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,871 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the sale, the chief operating officer now owns 272,062 shares of the company’s stock, valued at $57,726,115.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chubb news, COO John W. Keogh sold 23,871 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the sale, the chief operating officer now owns 272,062 shares of the company’s stock, valued at $57,726,115.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Theodore Shasta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $189.73, for a total transaction of $189,730.00. Following the sale, the director now directly owns 14,488 shares in the company, valued at approximately $2,748,808.24. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Chubb Stock Down 2.1 %

Shares of Chubb stock opened at $186.01 on Friday. Chubb Limited has a 52-week low of $173.78 and a 52-week high of $231.37. The company has a 50 day moving average of $210.51 and a 200 day moving average of $207.19. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $76.92 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.09 and a beta of 0.66.

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

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Friday, March 17th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $3.32 dividend on an annualized basis and a yield of 1.78%. Chubb’s dividend payout ratio is currently 26.52%.

Chubb Profile

(Get Rating)

Chubb Ltd. operates as 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.