Peterson Wealth Services Sells 9,357 Shares of Chubb Limited $CB

Peterson Wealth Services reduced its position in Chubb Limited (NYSE:CB) by 82.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,934 shares of the financial services provider’s stock after selling 9,357 shares during the quarter. Peterson Wealth Services’ holdings in Chubb were worth $546,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Money Concepts Capital Corp boosted its position in Chubb by 155.0% during the third quarter. Money Concepts Capital Corp now owns 2,774 shares of the financial services provider’s stock valued at $783,000 after acquiring an additional 1,686 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Chubb by 157.7% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 9,267 shares of the financial services provider’s stock valued at $2,616,000 after purchasing an additional 5,671 shares during the period. Nicholson Wealth Management Group LLC boosted its position in shares of Chubb by 7.9% during the 3rd quarter. Nicholson Wealth Management Group LLC now owns 6,754 shares of the financial services provider’s stock valued at $1,906,000 after purchasing an additional 496 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Chubb by 41.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 6,383 shares of the financial services provider’s stock valued at $1,802,000 after purchasing an additional 1,862 shares in the last quarter. Finally, Convergence Investment Partners LLC grew its stake in Chubb by 451.0% during the third quarter. Convergence Investment Partners LLC now owns 4,502 shares of the financial services provider’s stock worth $1,271,000 after purchasing an additional 3,685 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CB. JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a research note on Monday, December 29th. Wolfe Research upped their price objective on shares of Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research report on Monday, November 24th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $283.00 target price on shares of Chubb in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $324.00.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 16,375 shares of the stock in a transaction dated Friday, November 14th. The shares were 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 owned 74,225 shares in the company, valued at $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 10,580 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $296.17, for a total transaction of $3,133,478.60. Following the transaction, the executive vice president owned 12,660 shares in the company, valued at approximately $3,749,512.20. This trade represents a 45.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,635 shares of company stock valued at $9,970,735 over the last 90 days. Insiders own 0.86% of the company’s stock.

Chubb Stock Up 0.6%

Shares of NYSE CB opened at $311.49 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company has a 50-day moving average price of $305.10 and a 200-day moving average price of $287.83. The stock has a market capitalization of $122.59 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.99 and a beta of 0.49. Chubb Limited has a 1 year low of $263.14 and a 1 year high of $316.94.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were issued 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, December 12th. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

Chubb Company Profile

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.