Clark Capital Management Group Inc. Lowers Stock Holdings in Chubb Limited $CB

Clark Capital Management Group Inc. lowered its stake in Chubb Limited (NYSE:CB) by 23.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 443,054 shares of the financial services provider’s stock after selling 139,156 shares during the period. Chubb accounts for about 0.8% of Clark Capital Management Group Inc.’s holdings, making the stock its 26th largest holding. Clark Capital Management Group Inc.’s holdings in Chubb were worth $125,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Chubb by 0.6% in the second quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock worth $10,643,993,000 after acquiring an additional 210,053 shares during the last quarter. Berkshire Hathaway Inc increased its stake in Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Chubb by 9.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after purchasing an additional 427,512 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Chubb during the second quarter valued at approximately $1,195,137,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at $169,572,096.72. This represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CB. Wolfe Research increased their target price on Chubb from $364.00 to $372.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a report on Monday, December 29th. Wells Fargo & Company upped their target price on shares of Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Barclays raised their price target on shares of Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $366.00 price objective on shares of Chubb in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $340.81.

Chubb Stock Down 0.1%

Chubb stock opened at $329.24 on Friday. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The stock has a fifty day moving average of $319.55 and a 200 day moving average of $299.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $128.45 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $6.02 earnings per share. As a group, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.