SVB Wealth LLC Sells 3,487 Shares of Chubb Limited $CB

SVB Wealth LLC decreased its stake in Chubb Limited (NYSE:CB) by 48.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,751 shares of the financial services provider’s stock after selling 3,487 shares during the period. SVB Wealth LLC’s holdings in Chubb were worth $1,087,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Chubb in the 1st quarter valued at $31,000. VSM Wealth Advisory LLC bought a new stake in Chubb during the 2nd quarter worth $32,000. WPG Advisers LLC acquired a new position in Chubb in the 1st quarter worth about $33,000. Maseco LLP bought a new position in Chubb in the second quarter valued at about $35,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Chubb by 391.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a research report on Wednesday, October 8th. Citigroup lifted their price target on shares of Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Morgan Stanley boosted their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Wells Fargo & Company increased their price objective on Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Finally, Bank of America lifted their target price on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $308.32.

Insider Activity

In other news, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Lupica sold 16,375 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the sale, the insider directly owned 74,225 shares of the company’s stock, valued at $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,333 shares of company stock worth $16,629,873 in the last three months. Company insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $300.83 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $287.01 and a two-hundred day moving average price of $281.82. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a market cap of $118.39 billion, a P/E ratio of 12.56, a PEG ratio of 3.40 and a beta of 0.51.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same period in the previous year, the business earned $5.72 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, December 12th. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

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.