Bank of America Corp DE Sells 331,895 Shares of Chubb Limited $CB

Bank of America Corp DE lessened its stake in shares of Chubb Limited (NYSE:CB) by 6.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,597,963 shares of the financial services provider’s stock after selling 331,895 shares during the quarter. Bank of America Corp DE owned about 1.17% of Chubb worth $1,297,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 44 shares during the period. Cedar Mountain Advisors LLC lifted its position in Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Chubb during the second quarter worth approximately $32,000. Cornerstone Planning Group LLC grew its position in shares of Chubb by 81.5% in the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Chubb in the third quarter valued at approximately $34,000. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.1%

Shares of NYSE:CB opened at $329.24 on Monday. The business’s 50 day simple moving average is $319.55 and its 200 day simple moving average is $299.76. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $128.45 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.06 and a beta of 0.46.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.33 by $1.19. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.02 EPS. On average, research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be given a $0.97 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

Analysts Set New Price Targets

CB has been the subject of several research reports. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a report on Monday, December 29th. Jefferies Financial Group upped their price objective on Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Mizuho increased their price objective on Chubb from $317.00 to $336.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Wolfe Research lifted their target price on Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, BMO Capital Markets boosted their target price on shares of Chubb from $283.00 to $326.00 and gave the company a “market perform” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $340.81.

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 511,576 shares in the company, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction 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 approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.86% of the stock is owned by insiders.

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.