State Street Corp Lowers Stock Holdings in Chubb Limited $CB

State Street Corp lowered its stake in Chubb Limited (NYSE:CB) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 16,845,051 shares of the financial services provider’s stock after selling 200,742 shares during the quarter. State Street Corp’s holdings in Chubb were worth $5,274,222,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management raised its position in shares of Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock valued at $2,689,000 after buying an additional 7,156 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of Chubb by 7.4% during the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock valued at $31,970,000 after buying an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Chubb by 42.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock valued at $4,446,000 after buying an additional 4,233 shares in the last quarter. waypoint wealth counsel raised its position in shares of Chubb by 76.4% during the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock valued at $1,285,000 after buying an additional 1,784 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Chubb during the 3rd quarter valued at about $3,123,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $328.06 on Friday. The company has a market capitalization of $127.24 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.67 and a beta of 0.41. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm’s 50-day moving average is $324.93 and its 200 day moving average is $318.94. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The business had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Research analysts predict that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $1.02 dividend. The ex-dividend date is Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is currently 13.70%.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 27th. The Goldman Sachs Group cut their price target on shares of Chubb from $372.00 to $362.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Wells Fargo & Company upped their price target on shares of Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $315.00 price target on shares of Chubb in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group cut their price target on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $349.10.

Insider Transactions at Chubb

In other Chubb news, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the company’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 completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents 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 owned by corporate insiders.

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.