Pictet Asset Management Holding SA Trims Stake in Chubb Limited $CB

Pictet Asset Management Holding SA reduced its holdings in Chubb Limited (NYSE:CB) by 15.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 205,513 shares of the financial services provider’s stock after selling 36,871 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chubb were worth $64,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after buying an additional 44 shares in the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Chubb during the 3rd quarter worth $31,000. Cornerstone Planning Group LLC lifted its holdings in shares of Chubb by 81.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 53 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in Chubb in the third quarter worth $37,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In related news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer owned 511,576 shares in the company, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 44,877 shares of company stock valued at $14,885,226. Company insiders own 0.37% of the company’s stock.

Chubb Trading Up 1.7%

Shares of CB opened at $330.12 on Wednesday. The stock has a market capitalization of $128.82 billion, a P/E ratio of 11.66, a PEG ratio of 1.67 and a beta of 0.49. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $329.13 and a two-hundred day simple moving average of $310.73.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. On average, research analysts anticipate that Chubb Limited will post 26.67 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were given 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 was Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 13.70%.

Analyst Ratings Changes

A number of research analysts recently commented on CB shares. Raymond James Financial increased their target price on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research note on Monday, February 9th. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a report on Monday, March 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $315.00 target price on shares of Chubb in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chubb currently has an average rating of “Moderate Buy” and an average price target of $349.33.

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.