EverSource Wealth Advisors LLC Lowers Holdings in Chubb Limited (NYSE:CB)

EverSource Wealth Advisors LLC reduced its position in shares of Chubb Limited (NYSE:CB) by 13.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,111 shares of the financial services provider’s stock after selling 332 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Chubb were worth $477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Chubb by 0.8% in the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock worth $3,855,996,000 after purchasing an additional 138,142 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after acquiring an additional 13,059,385 shares during the period. Norges Bank purchased a new position in shares of Chubb during the fourth quarter valued at approximately $957,756,000. Northern Trust Corp lifted its position in Chubb by 2.3% during the third quarter. Northern Trust Corp now owns 4,221,419 shares of the financial services provider’s stock valued at $878,815,000 after purchasing an additional 93,885 shares during the period. Finally, Raymond James & Associates raised its stake in Chubb by 2.6% during the 4th quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock valued at $701,301,000 after buying an additional 77,453 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.2 %

Shares of Chubb stock traded down $0.60 during trading on Thursday, hitting $266.84. The stock had a trading volume of 202,256 shares, compared to its average volume of 1,728,926. The stock has a market cap of $108.35 billion, a PE ratio of 11.87, a PEG ratio of 9.40 and a beta of 0.63. Chubb Limited has a 12 month low of $183.71 and a 12 month high of $275.41. The firm’s fifty day simple moving average is $253.50 and its 200-day simple moving average is $241.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. Chubb’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $4.41 EPS. As a group, sell-side analysts expect that Chubb Limited will post 21.21 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.36%. Chubb’s dividend payout ratio is presently 15.27%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Chubb news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael G. Atieh sold 716 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the sale, the director now owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The disclosure for this sale can be found here. Insiders sold 145,815 shares of company stock worth $37,349,247 over the last three months. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group upped their price objective on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Royal Bank of Canada reduced their price objective on Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Evercore ISI lifted their price objective on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. BMO Capital Markets raised their target price on shares of Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, February 5th. Finally, StockNews.com lowered shares of Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chubb presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.70.

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.