Empirical Financial Services LLC d.b.a. Empirical Wealth Management Decreases Holdings in Chubb Limited (NYSE:CB)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its holdings in shares of Chubb Limited (NYSE:CB) by 33.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,137 shares of the financial services provider’s stock after selling 573 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Chubb were worth $257,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Americana Partners LLC purchased a new stake in shares of Chubb during the third quarter valued at approximately $292,000. Lazard Asset Management LLC boosted its position in Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after buying an additional 495,860 shares during the period. Alphinity Investment Management Pty Ltd grew its holdings in Chubb by 155.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after acquiring an additional 324,019 shares during the last quarter. Graypoint LLC grew its holdings in Chubb by 1,275.7% in the 4th quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after acquiring an additional 29,302 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new position in shares of Chubb in the fourth quarter valued at about $1,403,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. HSBC restated a “hold” rating and set a $270.00 price target (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Evercore ISI increased their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods cut their price objective on Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and set a $280.00 target price on shares of Chubb in a report on Monday, April 15th. Finally, StockNews.com cut Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $266.74.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the sale, the insider now owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,570 shares of company stock valued at $36,752,777. 0.86% of the stock is owned by insiders.

Chubb Stock Up 1.0 %

NYSE:CB opened at $254.04 on Friday. The firm has a 50-day simple moving average of $251.81 and a two-hundred day simple moving average of $237.86. The firm has a market cap of $103.16 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.17 and a beta of 0.63. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $260.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.41 EPS. Analysts predict that Chubb Limited will post 21.18 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.35%. Chubb’s payout ratio is 15.27%.

Chubb 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.