Chubb Limited $CB Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in shares of Chubb Limited (NYSE:CB) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,670 shares of the financial services provider’s stock after selling 14,488 shares during the quarter. M&T Bank Corp’s holdings in Chubb were worth $25,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new stake in Chubb during the first quarter worth about $31,000. VSM Wealth Advisory LLC acquired a new position in shares of Chubb in the second quarter worth $32,000. WPG Advisers LLC purchased a new position in Chubb in the 1st quarter valued at about $33,000. Maseco LLP acquired a new stake in Chubb during the second quarter worth approximately $35,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Chubb by 391.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $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.

Analyst Ratings Changes

Several research firms recently issued reports on CB. Morgan Stanley raised their target price on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price target on Chubb from $297.00 to $302.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $300.00 price objective on shares of Chubb in a research note on Monday, October 27th. Finally, UBS Group boosted their target price on shares of Chubb from $292.00 to $298.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $308.32.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 850 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $295.19, for a total transaction of $250,911.50. Following the sale, the executive vice president directly owned 1,585 shares in the company, valued at approximately $467,876.15. This represents a 34.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,333 shares of company stock worth $16,629,873 over the last quarter. 0.86% of the stock is owned by company insiders.

Chubb Stock Up 0.2%

CB stock opened at $294.60 on Wednesday. The company has a market capitalization of $115.94 billion, a P/E ratio of 12.30, a PEG ratio of 3.36 and a beta of 0.51. The firm has a 50 day simple moving average of $285.33 and a 200-day simple moving average of $281.58. 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 Limited has a twelve month low of $252.16 and a twelve month high of $306.91.

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

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s dividend payout ratio is currently 16.19%.

Chubb Company 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.