Capital Group Private Client Services Inc. Lowers Stake in Chubb Limited $CB

Capital Group Private Client Services Inc. lessened its stake in Chubb Limited (NYSE:CB) by 73.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 13,746 shares of the financial services provider’s stock after selling 38,681 shares during the period. Capital Group Private Client Services Inc.’s holdings in Chubb were worth $3,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in shares of Chubb by 93.6% during the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after buying an additional 44 shares during the period. Cedar Mountain Advisors LLC raised its holdings in shares of Chubb by 155.6% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares during the period. VSM Wealth Advisory LLC acquired a new position in Chubb during the 2nd quarter worth about $32,000. Cornerstone Planning Group LLC lifted its stake in Chubb by 81.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 53 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new position in Chubb during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CB. Morgan Stanley set a $350.00 target price on Chubb in a research report on Friday, January 16th. Citigroup raised their price objective on shares of Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a report on Monday, November 24th. BMO Capital Markets upped their target price on shares of Chubb from $283.00 to $326.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 10th. Finally, Evercore increased their target price on shares of Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $340.81.

Chubb Stock Performance

Shares of CB opened at $325.32 on Wednesday. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The stock has a market capitalization of $126.93 billion, a PE ratio of 12.64, a PEG ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50-day simple moving average of $318.61 and a 200-day simple moving average of $298.62.

Chubb (NYSE:CB) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.02 earnings per share. On average, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s payout ratio is 15.08%.

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% 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, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.86% of the company’s stock.

Chubb 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.