Patten Group Inc. Sells 302 Shares of Chubb Limited (NYSE:CB)

Patten Group Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,513 shares of the financial services provider’s stock after selling 302 shares during the period. Chubb comprises about 0.8% of Patten Group Inc.’s portfolio, making the stock its 26th largest position. Patten Group Inc.’s holdings in Chubb were worth $3,609,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CB. Pathway Financial Advisers LLC bought a new position in Chubb in the first quarter worth about $25,000. Beacon Capital Management LLC boosted its stake in Chubb by 76.4% in the second 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 in the last quarter. Chilton Capital Management LLC purchased a new position in Chubb in the second quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Chubb during the second quarter worth $28,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Chubb stock opened at $282.83 on Thursday. The firm’s fifty day moving average price is $281.42 and its 200 day moving average price is $266.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $114.85 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. Chubb Limited has a 12-month low of $205.64 and a 12-month high of $294.18.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period last year, the firm earned $4.92 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts forecast that Chubb Limited will post 21.21 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s 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 directly owns 583,982 shares in the company, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CB. Piper Sandler lifted their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Roth Mkm boosted their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upped their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $281.00.

Chubb Profile

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.