Pictet Asset Management Holding SA Sells 2,873 Shares of Chubb Limited $CB

Pictet Asset Management Holding SA trimmed its stake in shares of Chubb Limited (NYSE:CB) by 1.8% in the third quarter, Holdings Channel.com reports. The fund owned 155,947 shares of the financial services provider’s stock after selling 2,873 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chubb were worth $50,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Berkshire Hathaway Inc bought a new stake in Chubb in the second quarter valued at approximately $11,670,067,000. BlackRock Inc. acquired a new stake in Chubb during the 2nd quarter valued at approximately $9,913,336,000. GQG Partners LLC bought a new position in Chubb during the 2nd quarter worth approximately $4,250,113,000. Bank of America Corp DE raised its holdings in Chubb by 3.1% during the 1st quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after purchasing an additional 147,876 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Chubb by 74.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,420,692 shares of the financial services provider’s stock worth $1,114,906,000 after purchasing an additional 1,457,992 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 13,889 shares of Chubb stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $360.02, for a total value of $5,000,317.78. Following the completion of the sale, the chief executive officer directly owned 277,274 shares of the company’s stock, valued at approximately $99,824,185.48. The trade was a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Boroughs sold 13,596 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the transaction, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. This represents a 70.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,985 shares of company stock valued at $11,748,463. Corporate insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $369.34 on Wednesday. The company has a market cap of $141.12 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.29. Chubb Limited has a 52 week low of $288.39 and a 52 week high of $384.26. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $347.10 and a 200-day moving average of $336.14.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The company had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.66 billion. During the same quarter in the previous year, the company earned $7.49 EPS. On average, equities analysts forecast that Chubb Limited will post 28.89 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CB shares. Keefe, Bruyette & Woods reduced their price objective on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. HSBC reissued a “hold” rating and set a $359.00 target price on shares of Chubb in a research note on Wednesday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $371.00 to $374.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $400.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $362.78.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.