Ropes Wealth Advisors LLC Trims Holdings in Chubb Ltd (CB)
Ropes Wealth Advisors LLC cut its stake in Chubb Ltd (NYSE:CB) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,534 shares of the financial services provider’s stock after selling 101 shares during the period. Ropes Wealth Advisors LLC’s holdings in Chubb were worth $2,596,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Chubb by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after purchasing an additional 417,887 shares during the period. Vanguard Group Inc boosted its holdings in Chubb by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after purchasing an additional 417,887 shares during the period. BlackRock Inc. boosted its holdings in Chubb by 2.9% in the 4th quarter. BlackRock Inc. now owns 31,252,910 shares of the financial services provider’s stock valued at $4,037,250,000 after purchasing an additional 875,406 shares during the period. Bank of America Corp DE boosted its holdings in Chubb by 29.9% in the 4th quarter. Bank of America Corp DE now owns 13,576,704 shares of the financial services provider’s stock valued at $1,753,839,000 after purchasing an additional 3,125,070 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in Chubb by 4.4% in the 4th quarter. WCM Investment Management LLC now owns 6,998,830 shares of the financial services provider’s stock valued at $904,109,000 after purchasing an additional 291,892 shares during the period. 88.66% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on CB. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Credit Suisse Group downgraded shares of Chubb from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $141.00 to $131.00 in a report on Wednesday, February 27th. Raymond James dropped their price objective on shares of Chubb from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 11th. Compass Point initiated coverage on shares of Chubb in a research note on Tuesday, January 15th. They issued a “buy” rating and a $165.00 price objective for the company. Finally, Wells Fargo & Co set a $160.00 target price on shares of Chubb and gave the company a “buy” rating in a research report on Friday, January 18th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Chubb presently has a consensus rating of “Hold” and a consensus price target of $151.33.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, February 5th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.09. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.80 billion. Chubb had a net margin of 11.72% and a return on equity of 8.66%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.17 EPS. On average, analysts forecast that Chubb Ltd will post 10.61 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a dividend of $0.73 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.92 annualized dividend and a yield of 2.10%. Chubb’s dividend payout ratio (DPR) is 30.93%.
In related news, insider Paul Bennett Medini sold 2,437 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $133.94, for a total transaction of $326,411.78. Following the transaction, the insider now owns 95,101 shares in the company, valued at approximately $12,737,827.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John J. Lupica sold 17,879 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $134.95, for a total transaction of $2,412,771.05. Following the transaction, the insider now owns 192,265 shares in the company, valued at approximately $25,946,161.75. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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