BlackDiamond Wealth Management LLC Cuts Holdings in Chubb Limited (NYSE:CB)

BlackDiamond Wealth Management LLC reduced its stake in Chubb Limited (NYSE:CB) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,761 shares of the financial services provider’s stock after selling 103 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Chubb were worth $487,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CB. Axxcess Wealth Management LLC lifted its holdings in Chubb by 3.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,277 shares of the financial services provider’s stock worth $905,000 after acquiring an additional 105 shares during the last quarter. Delphi Management Inc. MA raised its holdings in shares of Chubb by 1.3% during the fourth quarter. Delphi Management Inc. MA now owns 5,255 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 65 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Chubb by 8.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 133,566 shares of the financial services provider’s stock valued at $36,904,000 after acquiring an additional 10,105 shares during the period. William Blair Investment Management LLC increased its stake in shares of Chubb by 0.5% during the fourth quarter. William Blair Investment Management LLC now owns 186,045 shares of the financial services provider’s stock valued at $51,404,000 after acquiring an additional 932 shares during the period. Finally, Signaturefd LLC grew its position in Chubb by 1.9% in the fourth quarter. Signaturefd LLC now owns 5,966 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 111 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Up 1.3 %

Shares of NYSE CB opened at $297.81 on Tuesday. The firm has a market cap of $119.25 billion, a PE ratio of 13.11, a P/E/G ratio of 3.36 and a beta of 0.66. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The company’s fifty day simple moving average is $274.21 and its 200 day simple moving average is $280.97. 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 released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.22%. Chubb’s payout ratio is currently 16.02%.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the transaction, the chief executive officer now directly owns 584,395 shares in the company, valued at approximately $170,321,922.75. This trade represents a 4.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent research reports. Barclays decreased their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $301.00.

Chubb Company 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.