Great Lakes Advisors LLC Lowers Holdings in Chubb Limited $CB

Great Lakes Advisors LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,249 shares of the financial services provider’s stock after selling 2,719 shares during the quarter. Great Lakes Advisors LLC’s holdings in Chubb were worth $38,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Chubb by 0.5% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock valued at $2,083,000 after acquiring an additional 35 shares during the period. Covestor Ltd raised its position in Chubb by 26.1% in the third quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 37 shares during the period. Evermay Wealth Management LLC lifted its stake in Chubb by 2.3% during the second quarter. Evermay Wealth Management LLC now owns 1,684 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 38 shares in the last quarter. JT Stratford LLC boosted its position in shares of Chubb by 3.5% during the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock worth $327,000 after buying an additional 38 shares during the period. Finally, Jacobsen Capital Management grew its stake in shares of Chubb by 5.3% in the second quarter. Jacobsen Capital Management now owns 773 shares of the financial services provider’s stock valued at $224,000 after buying an additional 39 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 16,375 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the completion of the sale, the insider directly owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. The trade was a 18.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 850 shares of Chubb stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the transaction, the executive vice president directly owned 1,585 shares in the company, valued at approximately $467,876.15. This trade represents a 34.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,635 shares of company stock valued at $9,970,735 over the last ninety days. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley set a $350.00 target price on Chubb in a research report on Friday, January 16th. UBS Group raised their price target on shares of Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $283.00 price objective on shares of Chubb in a research note on Thursday, October 23rd. Bank of America lowered their target price on Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. Finally, Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.81.

Chubb Trading Up 0.7%

CB opened at $303.70 on Thursday. The business’s 50-day simple moving average is $304.38 and its 200-day simple moving average is $287.09. 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 company has a market cap of $119.52 billion, a P/E ratio of 12.68, a PEG ratio of 1.94 and a beta of 0.51. Chubb Limited has a one year low of $263.14 and a one year high of $316.94.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio (DPR) is 16.19%.

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.