Wesbanco Bank Inc. Has $5.11 Million Position in Chubb Limited $CB

Wesbanco Bank Inc. reduced its holdings in Chubb Limited (NYSE:CB) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,644 shares of the financial services provider’s stock after selling 358 shares during the period. Wesbanco Bank Inc.’s holdings in Chubb were worth $5,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. Brighton Jones LLC increased its stake in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Chubb in the 4th quarter valued at $205,000. Bank Pictet & Cie Europe AG acquired a new position in shares of Chubb during the 4th quarter worth about $1,320,000. Raiffeisen Bank International AG acquired a new position in shares of Chubb during the 4th quarter worth about $1,417,000. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Chubb by 981.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 26,360 shares of the financial services provider’s stock worth $7,283,000 after purchasing an additional 23,923 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CB shares. Wells Fargo & Company lowered their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and reduced their target price for the stock from $317.00 to $300.00 in a report on Friday, August 1st. UBS Group reduced their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $302.00.

Chubb Stock Performance

NYSE CB opened at $278.02 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $110.84 billion, a P/E ratio of 12.26, a P/E/G ratio of 3.19 and a beta of 0.56. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a 50-day moving average price of $274.38 and a two-hundred day moving average price of $283.40.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.38 EPS. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s payout ratio is currently 17.12%.

Insider Transactions at Chubb

In other news, Director Michael Corbat bought 425 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares of the company’s stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

About Chubb

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.