Vanguard Group Inc. Trims Stock Position in Chubb Limited $CB

Vanguard Group Inc. trimmed its holdings in Chubb Limited (NYSE:CB) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,625,861 shares of the financial services provider’s stock after selling 113,034 shares during the quarter. Vanguard Group Inc. owned 9.31% of Chubb worth $10,337,649,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Chubb in the second quarter worth about $1,195,137,000. Bank of America Corp DE lifted its holdings in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after acquiring an additional 513,852 shares during the period. London Co. of Virginia boosted its position in Chubb by 211.0% in the 2nd quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after purchasing an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC grew its stake in shares of Chubb by 46.9% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after purchasing an additional 444,557 shares during the period. Finally, Troy Asset Management Ltd increased its holdings in shares of Chubb by 89.1% during the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after purchasing an additional 373,872 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research note on Monday, November 24th. Roth Mkm lifted their price target on Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $366.00 price target on shares of Chubb in a research report on Thursday, February 5th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $350.00 price objective on shares of Chubb in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $340.09.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,307 shares of company stock worth $17,611,016 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Chubb Trading Down 2.4%

CB stock opened at $324.57 on Monday. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $263.14 and a 12-month high of $335.60. The stock has a market cap of $127.73 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.07 and a beta of 0.49. The business’s 50-day moving average is $310.71 and its 200 day moving average is $291.39.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.02 earnings per share. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio is currently 15.08%.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.