Chubb Limited $CB Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of Chubb Limited (NYSE:CB) by 17.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,121 shares of the financial services provider’s stock after selling 36,392 shares during the period. Pictet Asset Management Holding SA’s holdings in Chubb were worth $55,121,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CB. Berkshire Hathaway Inc lifted its stake in Chubb by 15.9% in 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 buying an additional 4,299,111 shares in the last quarter. Norges Bank purchased a new stake in Chubb during the 4th quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD increased its stake in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Chubb during the fourth quarter valued at approximately $795,378,000. Finally, GQG Partners LLC raised its holdings in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after acquiring an additional 1,647,729 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

CB stock opened at $342.93 on Tuesday. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $133.01 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.74 and a beta of 0.41. The business has a 50 day simple moving average of $325.43 and a 200-day simple moving average of $321.78.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Equities research analysts anticipate that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is presently 14.41%.

Analyst Ratings Changes

Several research firms have recently weighed in on CB. Mizuho decreased their target price on Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. increased their price objective on Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Citizens Jmp raised their price objective on Chubb from $350.00 to $365.00 and gave the company a “market outperform” rating in a report on Wednesday, April 22nd. Evercore lifted their target price on shares of Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $315.00 target price on shares of Chubb in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $349.10.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value 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. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

About Chubb

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.