Bank of New York Mellon Corp Sells 23,278 Shares of Chubb Limited $CB

Bank of New York Mellon Corp lowered its stake in shares of Chubb Limited (NYSE:CB) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,017,291 shares of the financial services provider’s stock after selling 23,278 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of Chubb worth $569,380,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Mitchell & Pahl Private Wealth LLC increased its position in Chubb by 0.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock valued at $2,083,000 after acquiring an additional 35 shares during the last quarter. Covestor Ltd grew its holdings in Chubb by 26.1% during the 3rd quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 37 shares during the last quarter. Evermay Wealth Management LLC raised its position in Chubb by 2.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 1,684 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 38 shares during the period. JT Stratford LLC lifted its stake in Chubb by 3.5% in the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 38 shares during the last quarter. Finally, Jacobsen Capital Management boosted its position in shares of Chubb by 5.3% during the second quarter. Jacobsen Capital Management now owns 773 shares of the financial services provider’s stock valued at $224,000 after buying an additional 39 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 10,580 shares of Chubb stock in a transaction on Monday, November 24th. The shares were sold at an average price of $296.17, for a total value of $3,133,478.60. Following the completion of the transaction, the executive vice president owned 12,660 shares in the company, valued at $3,749,512.20. This represents a 45.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,635 shares of company stock worth $9,970,735. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

CB stock opened at $303.70 on Thursday. Chubb Limited has a 1-year low of $263.14 and a 1-year high of $316.94. The business has a 50-day moving average price of $304.38 and a 200 day moving average price of $287.09. The company has a market capitalization of $119.52 billion, a P/E ratio of 12.68, a PEG ratio of 1.94 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CB shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a report on Monday, December 29th. Wells Fargo & Company increased their target price on Chubb from $293.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Cantor Fitzgerald boosted their target price on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Bank of America cut their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a report on Friday, January 16th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $283.00 price objective on shares of Chubb in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.81.

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.