Bright Rock Capital Management LLC Sells 20,000 Shares of Chubb Limited (NYSE:CB)

Bright Rock Capital Management LLC trimmed its holdings in Chubb Limited (NYSE:CBFree Report) by 36.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 35,000 shares of the financial services provider’s stock after selling 20,000 shares during the quarter. Chubb accounts for about 1.9% of Bright Rock Capital Management LLC’s holdings, making the stock its 21st biggest holding. Bright Rock Capital Management LLC’s holdings in Chubb were worth $9,070,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ZRC Wealth Management LLC purchased a new stake in shares of Chubb in the 4th quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Chubb in the 4th quarter worth about $29,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Chubb in the 4th quarter worth about $32,000. Northwest Financial Advisors purchased a new stake in shares of Chubb in the 4th quarter worth about $33,000. Finally, Naples Money Management LLC bought a new position in Chubb in the 4th quarter worth about $34,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares in the company, valued at $2,036,085.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares in the company, valued at $2,036,085.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,352 shares of company stock worth $9,968,293. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and set a $282.00 target price on shares of Chubb in a research note on Monday, April 1st. The Goldman Sachs Group upped their target price on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Evercore ISI increased their price objective on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Bank of America upgraded shares of Chubb from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. Finally, Citigroup reiterated a “neutral” rating and issued a $275.00 price objective (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $266.70.

Read Our Latest Analysis on Chubb

Chubb Trading Down 0.7 %

NYSE:CB traded down $1.88 during trading hours on Friday, hitting $264.60. The company had a trading volume of 2,452,670 shares, compared to its average volume of 1,287,659. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $257.74 and a 200 day moving average of $247.34. The company has a market cap of $107.44 billion, a P/E ratio of 11.74, a P/E/G ratio of 6.38 and a beta of 0.66. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $275.41.

Chubb (NYSE:CBGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $4.41 EPS. Sell-side analysts expect that Chubb Limited will post 21.19 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

About Chubb

(Free Report)

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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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