Chubb Limited $CB Stock: Welch & Forbes LLC Cuts Stake

Welch & Forbes LLC lowered its holdings in shares of Chubb Limited (NYSE:CB) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 382,010 shares of the financial services provider’s stock after selling 2,793 shares during the quarter. Chubb makes up approximately 1.5% of Welch & Forbes LLC’s holdings, making the stock its 19th biggest position. Welch & Forbes LLC’s holdings in Chubb were worth $124,249,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in Chubb during the second quarter valued at approximately $25,000. Dunhill Financial LLC bought a new stake in Chubb during the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new position in shares of Chubb during the 2nd quarter valued at $26,000. Highland Investment Advisors LLC purchased a new stake in shares of Chubb during the second quarter worth about $26,000. Finally, Frazier Financial Advisors LLC lifted its holdings in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.4%

Shares of CB stock opened at $363.38 on Tuesday. The company has a market cap of $138.84 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.29. Chubb Limited has a 1 year low of $284.63 and a 1 year high of $384.26. The stock’s 50 day simple moving average is $346.50 and its two-hundred day simple moving average is $335.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. The firm had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same quarter in the previous year, the business earned $7.49 EPS. Research analysts predict that Chubb Limited will post 28.89 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s payout ratio is presently 14.28%.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Boroughs sold 13,596 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the transaction, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Connors sold 5,500 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,985 shares of company stock valued at $11,748,463 over the last three months. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

CB has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $371.00 to $374.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Citizens Jmp reiterated a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped their price target on Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Finally, UBS Group reiterated a “neutral” rating and set a $380.00 target price on shares of Chubb in a research report on Monday, October 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $362.78.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.

The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

Chubb’s current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.