Commonwealth Equity Services LLC Cuts Stake in Chubb Limited (NYSE:CB)

Commonwealth Equity Services LLC lowered its holdings in shares of Chubb Limited (NYSE:CB) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 80,829 shares of the financial services provider’s stock after selling 569 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Chubb were worth $22,333,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Chubb by 25.5% in the third quarter. Empowered Funds LLC now owns 12,033 shares of the financial services provider’s stock worth $3,470,000 after buying an additional 2,446 shares during the period. Accredited Investors Inc. purchased a new position in Chubb in the 3rd quarter worth approximately $237,000. Schear Investment Advisers LLC lifted its position in Chubb by 16.8% in the third quarter. Schear Investment Advisers LLC now owns 6,816 shares of the financial services provider’s stock valued at $1,966,000 after purchasing an additional 978 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in shares of Chubb by 45.1% during the third quarter. Concord Asset Management LLC VA now owns 6,906 shares of the financial services provider’s stock valued at $1,992,000 after purchasing an additional 2,147 shares during the period. Finally, Claro Advisors LLC grew its holdings in shares of Chubb by 9.8% in the third quarter. Claro Advisors LLC now owns 7,945 shares of the financial services provider’s stock worth $2,291,000 after purchasing an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares of the company’s stock, valued at $170,321,922.75. This trade represents a 4.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CB. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company reduced their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price objective on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of Chubb in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $301.00.

Chubb Trading Up 2.0 %

Shares of NYSE CB opened at $294.46 on Monday. The stock has a market cap of $117.91 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $302.05. The firm has a 50-day moving average of $273.60 and a 200 day moving average of $280.86.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.24%. Chubb’s dividend payout ratio is currently 16.02%.

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.