Wesbanco Bank Inc. Reduces Position in Chubb Limited $CB

Wesbanco Bank Inc. lowered its position in shares of Chubb Limited (NYSE:CB) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,087 shares of the financial services provider’s stock after selling 1,557 shares during the period. Wesbanco Bank Inc.’s holdings in Chubb were worth $4,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Chubb in the 2nd quarter worth approximately $1,195,137,000. Bank of America Corp DE lifted its stake in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares during the period. London Co. of Virginia boosted its holdings in Chubb by 211.0% in the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock valued at $213,559,000 after acquiring an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC boosted its holdings in Chubb by 46.9% in the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after acquiring an additional 444,557 shares in the last quarter. Finally, Troy Asset Management Ltd increased its position in Chubb by 89.1% during the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after purchasing an additional 373,872 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE CB opened at $326.16 on Wednesday. The company has a 50 day simple moving average of $308.69 and a two-hundred day simple moving average of $290.09. Chubb Limited has a fifty-two week low of $263.14 and a fifty-two week high of $335.59. The company has a market capitalization of $128.36 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.08 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same period in the previous year, the firm posted $6.02 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio is currently 15.08%.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at $3,920,683.80. The trade was a 70.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the sale, the executive vice president owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 76,512 shares of company stock valued at $24,197,361 over the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CB shares. Roth Mkm raised their target price on shares of Chubb from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Bank of America decreased their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. HSBC lifted their price objective on Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Mizuho increased their target price on Chubb from $317.00 to $336.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, BMO Capital Markets raised their target price on Chubb from $283.00 to $326.00 and gave the company a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and an average target price of $340.09.

Chubb Company Profile

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.