Victory Capital Management Inc. Cuts Position in Chubb Limited $CB

Victory Capital Management Inc. lowered its holdings in shares of Chubb Limited (NYSE:CB) by 26.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 397,584 shares of the financial services provider’s stock after selling 142,962 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Chubb worth $112,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Vanguard Group Inc. grew its stake in Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock valued at $10,643,993,000 after acquiring an additional 210,053 shares during the period. Geode Capital Management LLC increased its stake in shares of Chubb by 0.3% during the second quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock worth $2,541,771,000 after purchasing an additional 30,721 shares in the last quarter. Bank of America Corp DE lifted its stake in Chubb by 11.6% in the 2nd 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 buying an additional 513,852 shares in the last quarter. Norges Bank acquired a new stake in Chubb in the 2nd quarter worth about $1,195,137,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Chubb by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock worth $652,915,000 after buying an additional 18,820 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value 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 trade represents a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Chubb from $283.00 to $326.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $366.00 target price on shares of Chubb in a research note on Thursday, February 5th. Mizuho increased their target price on shares of Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Wells Fargo & Company raised their price target on shares of Chubb from $305.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Finally, HSBC upped their price objective on shares of Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $340.81.

Chubb Trading Down 1.2%

Shares of CB opened at $334.17 on Thursday. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The firm has a market capitalization of $130.38 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.15 and a beta of 0.46. The firm has a 50-day moving average price of $317.53 and a 200 day moving average price of $297.04. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its earnings results 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. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period in the previous year, the business posted $6.02 EPS. Chubb’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm 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 $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio is presently 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.