CIBC Private Wealth Group LLC Trims Stock Position in Chubb Limited (NYSE:CB)

CIBC Private Wealth Group LLC lessened its stake in Chubb Limited (NYSE:CB) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 185,052 shares of the financial services provider’s stock after selling 2,708 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Chubb were worth $49,344,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC boosted its holdings in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 35 shares during the period. First Financial Bank Trust Division raised its position in Chubb by 3.7% in the 4th quarter. First Financial Bank Trust Division now owns 1,026 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 37 shares in the last quarter. Rede Wealth LLC boosted its stake in shares of Chubb by 2.0% in the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock valued at $525,000 after buying an additional 37 shares during the period. Sfmg LLC grew its position in shares of Chubb by 2.4% during the third quarter. Sfmg LLC now owns 1,681 shares of the financial services provider’s stock worth $485,000 after buying an additional 40 shares in the last quarter. Finally, United Asset Strategies Inc. raised its holdings in Chubb by 1.3% in the fourth quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock valued at $851,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CB. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JMP Securities reissued a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $301.00.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now owns 20,044 shares in the company, valued at $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is owned by corporate insiders.

Chubb Stock Down 0.7 %

Shares of NYSE CB opened at $296.36 on Monday. The stock has a market capitalization of $118.67 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05. The firm has a 50-day moving average price of $279.26 and a 200 day moving average price of $281.41. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.23%. Chubb’s dividend payout ratio (DPR) is currently 16.02%.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.