Kestra Private Wealth Services LLC cut its position in Chubb Limited (NYSE:CB – Get Rating) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,168 shares of the financial services provider’s stock after selling 374 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Chubb were worth $892,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CB. Howe & Rusling Inc. raised its position in Chubb by 207.0% in the first quarter. Howe & Rusling Inc. now owns 132 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Advanced Research Investment Solutions LLC acquired a new stake in shares of Chubb in the first quarter valued at about $29,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Chubb in the first quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its stake in shares of Chubb by 49.1% in the first quarter. Rosenberg Matthew Hamilton now owns 167 shares of the financial services provider’s stock valued at $36,000 after buying an additional 55 shares during the period. Finally, Tcwp LLC acquired a new stake in shares of Chubb in the first quarter valued at about $39,000. 87.97% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Evan G. Greenberg sold 25,792 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $193.86, for a total value of $5,000,037.12. Following the transaction, the chief executive officer now owns 594,671 shares in the company, valued at $115,282,920.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.
Chubb Stock Down 1.5 %
Chubb (NYSE:CB – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.59 by $0.61. The business had revenue of $10.51 billion for the quarter, compared to analyst estimates of $10.52 billion. Chubb had a return on equity of 10.97% and a net margin of 17.36%. During the same quarter in the prior year, the company earned $3.62 earnings per share. As a group, research analysts forecast that Chubb Limited will post 15.75 EPS for the current fiscal year.
Chubb Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 16th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $3.32 annualized dividend and a yield of 1.75%. Chubb’s payout ratio is currently 20.02%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CB shares. Wells Fargo & Company increased their price target on Chubb from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Citigroup started coverage on Chubb in a research note on Monday, May 23rd. They issued a “neutral” rating and a $209.00 price target for the company. Jefferies Financial Group decreased their price target on Chubb from $247.00 to $244.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Finally, Morgan Stanley decreased their target price on Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $230.83.
Chubb Company 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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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