Chevy Chase Trust Holdings LLC Lowers Stake in Chubb Limited $CB

Chevy Chase Trust Holdings LLC cut its stake in Chubb Limited (NYSE:CB) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,436 shares of the financial services provider’s stock after selling 7,611 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Chubb were worth $54,315,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Mitchell & Pahl Private Wealth LLC boosted its position in 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 buying an additional 35 shares during the period. Golden State Wealth Management LLC grew its stake in Chubb by 7.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 36 shares in the last quarter. Covestor Ltd increased its position in shares of Chubb by 26.1% during the third quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 37 shares during the period. CENTRAL TRUST Co increased its position in shares of Chubb by 1.0% during the third quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock worth $1,008,000 after acquiring an additional 37 shares during the period. Finally, JT Stratford LLC raised its stake 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 valued at $327,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $329.24 on Monday. The firm has a market cap of $128.45 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.06 and a beta of 0.46. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $319.55 and its 200 day moving average is $299.76.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.Chubb’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.02 earnings per share. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio is 15.08%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CB shares. Raymond James Financial boosted their price target on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a report on Monday, February 9th. Citizens Jmp reaffirmed a “market outperform” rating and set a $350.00 target price on shares of Chubb in a research report on Wednesday, February 4th. Barclays upped their target price on Chubb from $317.00 to $339.00 and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Wolfe Research increased their price target on Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Mizuho raised their price target on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $340.81.

Insider Transactions at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction dated 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 transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.86% of the stock is owned by company insiders.

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.