Glenmede Trust Co. NA decreased its stake in Chubb Limited (NYSE:CB – Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,757 shares of the financial services provider’s stock after selling 5,331 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.10% of Chubb worth $131,271,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 31 shares in the last quarter. Phillips Wealth Planners LLC lifted its stake in shares of Chubb by 1.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 31 shares during the period. Hoxton Planning & Management LLC boosted its holdings in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock worth $233,000 after buying an additional 31 shares in the last quarter. Wright Investors Service Inc. grew its position in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider’s stock valued at $1,538,000 after buying an additional 34 shares during the period. Finally, G&S Capital LLC grew its position in Chubb by 1.5% during the fourth quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider’s stock valued at $709,000 after buying an additional 34 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Chubb
In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.
Chubb Trading Up 0.3%
Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same period in the prior year, the business earned $6.14 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Analysts expect that Chubb Limited will post 27.4 EPS for the current fiscal year.
Chubb Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.
Wall Street Analysts Forecast Growth
CB has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Piper Sandler increased their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Finally, Bank of America decreased their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus price target of $360.09.
Get Our Latest Stock Report on Chubb
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.
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