Evercore Wealth Management LLC Sells 8,906 Shares of Chubb Limited $CB

Evercore Wealth Management LLC cut its holdings in Chubb Limited (NYSE:CB) by 2.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 420,570 shares of the financial services provider’s stock after selling 8,906 shares during the quarter. Chubb comprises approximately 2.2% of Evercore Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Evercore Wealth Management LLC’s holdings in Chubb were worth $137,076,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CB. KCM Investment Advisors LLC raised its stake in shares of Chubb by 1.2% in the first quarter. KCM Investment Advisors LLC now owns 16,713 shares of the financial services provider’s stock worth $5,447,000 after acquiring an additional 198 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Chubb by 31.9% during the first quarter. Quantinno Capital Management LP now owns 208,605 shares of the financial services provider’s stock valued at $67,991,000 after purchasing an additional 50,492 shares during the last quarter. Gateway Wealth Partners LLC acquired a new stake in shares of Chubb in the first quarter valued at approximately $1,699,000. Cypress Capital Group increased its holdings in shares of Chubb by 3.4% in the first quarter. Cypress Capital Group now owns 1,101 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 36 shares in the last quarter. Finally, Everest Financial Group LLC bought a new position in Chubb in the 1st quarter worth approximately $793,000. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Shares of CB stock opened at $359.00 on Tuesday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $365.29. The stock has a market cap of $139.24 billion, a PE ratio of 12.70, a PEG ratio of 1.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.36. The firm’s 50 day moving average price is $336.13 and its two-hundred day moving average price is $327.52.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $16.01 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 EPS. As a group, analysts forecast that Chubb Limited will post 27.15 EPS for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio is currently 14.43%.

Analyst Ratings Changes

CB has been the topic of several research reports. Bank of America reduced their price objective on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. HSBC cut Chubb from a “buy” rating to a “hold” rating and lifted their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. UBS Group boosted their target price on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald upped their price target on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Atlantic Securities set a $301.00 price target on Chubb in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $360.09.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

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.