Center for Wealth Management Advisory Trims Holdings in Chubb Limited $CB

Center for Wealth Management Advisory reduced its position in shares of Chubb Limited (NYSE:CB) by 85.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 856 shares of the financial services provider’s stock after selling 4,874 shares during the period. Center for Wealth Management Advisory’s holdings in Chubb were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. CBIZ Investment Advisory Services LLC raised its position in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in Chubb during the first quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Chubb during the third quarter worth approximately $31,000. Laurel Wealth Advisors LLC purchased a new stake in Chubb in the 4th quarter worth approximately $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in Chubb in the 4th quarter worth approximately $32,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Jefferies Financial Group decreased their price objective on Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Company lifted their price objective on Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Evercore upped their target price on Chubb from $347.00 to $349.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Bank of America reduced their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and a consensus price target of $350.24.

Chubb Stock Performance

Shares of CB stock opened at $351.94 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $136.51 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.74 and a beta of 0.41. Chubb Limited has a one year low of $264.10 and a one year high of $352.95. The company has a 50 day moving average price of $326.07 and a 200 day moving average price of $322.42.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The company had revenue of $14.93 billion for the quarter. Sell-side analysts anticipate that Chubb Limited will post 26.77 EPS for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a $1.02 dividend. The ex-dividend date is Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is 14.41%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

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.