Chubb Limited $CB Stake Decreased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its holdings in shares of Chubb Limited (NYSE:CB) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,958 shares of the financial services provider’s stock after selling 2,618 shares during the period. Cullen Frost Bankers Inc.’s holdings in Chubb were worth $22,568,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its stake in shares of Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 44 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Chubb by 155.6% in the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. VSM Wealth Advisory LLC bought a new position in Chubb in the 2nd quarter valued at about $32,000. Heartwood Wealth Advisors LLC bought a new position in Chubb in the 3rd quarter valued at about $34,000. Finally, Financial Consulate Inc. acquired a new position in Chubb during the 3rd quarter valued at about $37,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John J. Lupica sold 16,375 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. The trade was a 18.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,333 shares of company stock valued at $16,629,873 over the last three months. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Up 0.0%

NYSE:CB opened at $300.93 on Friday. The business’s fifty day moving average price is $303.93 and its 200 day moving average price is $286.59. The firm has a market capitalization of $118.43 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 3.28 and a beta of 0.51. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $263.14 and a 1-year high of $316.94.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were issued a $0.97 dividend. The ex-dividend date was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. Chubb’s dividend payout ratio is currently 16.19%.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. Wolfe Research increased their price objective on shares of Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. UBS Group increased their price target on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Morgan Stanley set a $350.00 price target on Chubb in a research report on Friday, January 16th. Jefferies Financial Group upped their price objective on Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group raised Chubb from a “neutral” rating to a “buy” rating and raised their target price for the company from $309.00 to $351.00 in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of “Moderate Buy” and an average price target of $323.81.

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.