Kesler Norman & Wride LLC Trims Position in Chubb Limited (NYSE:CB)

Kesler Norman & Wride LLC lessened its holdings in shares of Chubb Limited (NYSE:CB) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,272 shares of the financial services provider’s stock after selling 1,226 shares during the quarter. Chubb makes up about 1.6% of Kesler Norman & Wride LLC’s investment portfolio, making the stock its 15th biggest position. Kesler Norman & Wride LLC’s holdings in Chubb were worth $7,326,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Chubb in the 4th quarter worth $957,756,000. Confluence Investment Management LLC purchased a new position in shares of Chubb in the 1st quarter worth $165,932,000. Bank of Nova Scotia increased its holdings in Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after purchasing an additional 518,535 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Chubb by 19,454.2% in the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after purchasing an additional 482,854 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Chubb in the 4th quarter valued at $97,207,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CB. Morgan Stanley increased their price target on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods lowered their price target on Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Evercore ISI increased their price target on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and increased their price target for the company from $244.00 to $266.00 in a report on Thursday, May 23rd. Finally, Roth Mkm restated a “buy” rating and set a $280.00 target price on shares of Chubb in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $266.70.

Chubb Stock Down 0.6 %

NYSE:CB traded down $1.49 during mid-day trading on Thursday, reaching $254.08. The stock had a trading volume of 735,112 shares, compared to its average volume of 1,347,699. The company has a market capitalization of $103.17 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66. Chubb Limited has a 1-year low of $186.52 and a 1-year high of $275.41. The stock’s 50 day simple moving average is $259.69 and its two-hundred day simple moving average is $249.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the firm earned $4.41 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO John W. Keogh sold 34,707 shares of Chubb 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 sale, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock valued at $12,149,985 over the last quarter. Insiders own 0.86% of the company’s stock.

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.