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

CIBC Private Wealth Group LLC decreased its holdings in Chubb Limited (NYSE:CB) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in Chubb during the fourth quarter worth approximately $1,169,720,000. Raymond James Financial Inc. purchased a new stake in shares of Chubb during the 4th quarter valued at $1,158,897,000. GQG Partners LLC increased its holdings in shares of Chubb by 36.3% during the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after buying an additional 1,178,628 shares during the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Chubb by 1,007,698.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after buying an additional 1,007,698 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in Chubb by 41,494.7% in the fourth quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after acquiring an additional 810,807 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target 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. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Chubb has a consensus rating of “Hold” and an average price target of $301.00.

Chubb Stock Performance

Chubb stock opened at $296.36 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $279.26 and a 200-day moving average of $281.41. The stock has a market cap of $118.67 billion, a P/E 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.

Chubb (NYSE:CB) last released its earnings results 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%. On average, analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a $0.91 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.23%. Chubb’s payout ratio is 16.02%.

Insider Activity

In related news, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the sale, the chief executive officer now owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This trade represents a 4.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by insiders.

About Chubb

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.