Chubb Limited (NYSE:CB) Shares Sold by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,558 shares of the financial services provider’s stock after selling 222 shares during the period. Connecticut Wealth Management LLC’s holdings in Chubb were worth $804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Chubb by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock worth $3,855,996,000 after buying an additional 138,142 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Chubb by 426.8% in the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Chubb by 2.3% in the 3rd quarter. Northern Trust Corp now owns 4,221,419 shares of the financial services provider’s stock valued at $878,815,000 after buying an additional 93,885 shares during the period. Raymond James & Associates grew its position in shares of Chubb by 2.6% during the 4th quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock valued at $701,301,000 after buying an additional 77,453 shares during the last quarter. Finally, Boston Partners raised its stake in Chubb by 6.4% during the third quarter. Boston Partners now owns 2,850,197 shares of the financial services provider’s stock worth $594,006,000 after acquiring an additional 170,774 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 14,303 shares of Chubb stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the transaction, the executive vice president now directly owns 35,662 shares in the company, valued at approximately $9,228,612.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chubb news, EVP Joseph F. Wayland sold 26,946 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.02, for a total value of $6,925,660.92. Following the completion of the transaction, the executive vice president now directly owns 95,252 shares in the company, valued at $24,481,669.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the sale, the executive vice president now owns 35,662 shares in the company, valued at approximately $9,228,612.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,863 shares of company stock worth $28,007,307. 0.86% of the stock is owned by insiders.

Chubb Price Performance

Shares of CB traded down $1.71 during midday trading on Friday, reaching $248.54. The stock had a trading volume of 1,444,710 shares, compared to its average volume of 1,737,362. The firm’s 50 day moving average price is $251.96 and its 200-day moving average price is $237.16. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $260.58. The company has a market capitalization of $100.92 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.17 and a beta of 0.63. 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 issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. Chubb’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.41 EPS. On average, analysts forecast that Chubb Limited will post 21.18 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s payout ratio is 15.27%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Chubb from $275.00 to $297.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group increased their target price on Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Citigroup reissued a “neutral” rating and set a $275.00 price target (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. Morgan Stanley increased their price objective on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, BMO Capital Markets boosted their target price on shares of Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research note on Monday, February 5th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.89.

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.