CIBC Private Wealth Group LLC Sells 2,899 Shares of Chubb Limited (NYSE:CB)

CIBC Private Wealth Group LLC reduced its holdings in shares of Chubb Limited (NYSE:CB – Get Rating) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 199,224 shares of the financial services provider’s stock after selling 2,899 shares during the period. CIBC Private Wealth Group LLC’s holdings in Chubb were worth $36,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC lifted its holdings in shares of Chubb by 144.2% during the third quarter. FNY Investment Advisers LLC now owns 254 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 150 shares in the last quarter. Heritage Wealth Management LLC bought a new position in shares of Chubb during the second quarter valued at $52,000. Annapolis Financial Services LLC lifted its holdings in shares of Chubb by 60.4% during the third quarter. Annapolis Financial Services LLC now owns 300 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 113 shares in the last quarter. Rise Advisors LLC lifted its holdings in shares of Chubb by 1,112.9% during the third quarter. Rise Advisors LLC now owns 376 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 345 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its position in Chubb by 25.6% during the third quarter. Evermay Wealth Management LLC now owns 387 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 79 shares during the last quarter. 87.12% of the stock is owned by institutional investors.

Chubb Stock Performance

Shares of CB opened at $194.01 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $215.50 and a two-hundred day simple moving average of $207.49. The stock has a market cap of $80.23 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.14 and a beta of 0.66. Chubb Limited has a 52 week low of $173.78 and a 52 week high of $231.37.

Chubb (NYSE:CB – Get Rating) last released its earnings results on Wednesday, February 1st. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.22 by ($0.17). Chubb had a return on equity of 12.51% and a net margin of 12.35%. The business had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $11.58 billion. During the same quarter in the prior year, the business posted $3.81 EPS. On average, analysts expect that Chubb Limited will post 17.4 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Friday, March 17th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, March 16th. Chubb’s dividend payout ratio is currently 26.52%.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,871 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the completion of the sale, the chief operating officer now owns 272,062 shares in the company, valued at $57,726,115.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Capital reiterated a “buy” rating on shares of Chubb in a research report on Wednesday, February 1st. Royal Bank of Canada upped their price objective on Chubb from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, December 14th. Piper Sandler upped their price objective on Chubb from $225.00 to $230.00 in a research report on Tuesday, January 10th. Atlantic Securities upped their price objective on Chubb from $240.00 to $250.00 in a research report on Wednesday, February 22nd. Finally, BMO Capital Markets assumed coverage on Chubb in a research report on Thursday, January 19th. They set a “market perform” rating and a $225.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.36.

Chubb Company Profile

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Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.