Chubb Limited $CB Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its stake in Chubb Limited (NYSE:CB) by 23.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 14,734 shares of the financial services provider’s stock after selling 4,580 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Chubb were worth $4,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc increased its position in shares of Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. Norges Bank acquired a new position in Chubb during the second quarter worth about $1,195,137,000. AQR Capital Management LLC lifted its holdings in Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after acquiring an additional 1,199,963 shares during the last quarter. Woodline Partners LP bought a new position in shares of Chubb during the 3rd quarter valued at about $220,217,000. Finally, Amundi grew its stake in shares of Chubb by 55.4% in the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after purchasing an additional 693,740 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several research reports. Morgan Stanley set a $350.00 price objective on Chubb in a research note on Friday, January 16th. Evercore upped their price objective on shares of Chubb from $346.00 to $347.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Wolfe Research raised their target price on shares of Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Mizuho lifted their target price on shares of Chubb from $317.00 to $336.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Bank of America reduced their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $340.81.

Chubb Price Performance

NYSE CB opened at $328.22 on Thursday. The company has a 50 day simple moving average of $320.71 and a 200-day simple moving average of $300.75. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The firm has a market capitalization of $128.06 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.33 by $1.19. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.02 EPS. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

Chubb Company 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.