Clark Capital Management Group Inc. Decreases Holdings in Chubb Limited $CB

Clark Capital Management Group Inc. trimmed its stake in shares of Chubb Limited (NYSE:CB) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,381 shares of the financial services provider’s stock after selling 9,673 shares during the period. Chubb accounts for 0.8% of Clark Capital Management Group Inc.’s holdings, making the stock its 27th biggest position. Clark Capital Management Group Inc.’s holdings in Chubb were worth $135,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC lifted its holdings in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Chubb during the third quarter valued at $31,000. Laurel Wealth Advisors LLC purchased a new position in Chubb during the fourth quarter valued at $31,000. Ares Financial Consulting LLC purchased a new position in Chubb during the fourth quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC lifted its holdings in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 31 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Olivier Steimer sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $315.00 target price on shares of Chubb in a research report on Wednesday, April 22nd. Piper Sandler increased their target price on shares of Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Weiss Ratings cut shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Bank of America reduced their target price on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $349.10.

Chubb Price Performance

Shares of NYSE CB opened at $328.89 on Wednesday. The firm has a 50-day simple moving average of $324.90 and a 200-day simple moving average of $319.53. The stock has a market capitalization of $127.56 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.67 and a beta of 0.41. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. On average, equities analysts predict that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 14.41%.

Chubb 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.