Main Street Financial Solutions LLC Has $2.50 Million Stake in Chubb Limited (NYSE:CB)

Main Street Financial Solutions LLC lowered its stake in shares of Chubb Limited (NYSE:CB) by 13.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,061 shares of the financial services provider’s stock after selling 1,410 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Chubb were worth $2,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CB. Norges Bank acquired a new stake in shares of Chubb during the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. acquired a new stake in shares of Chubb in the 4th quarter valued at $1,158,897,000. GQG Partners LLC increased its stake in shares of Chubb by 36.3% in the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after purchasing an additional 1,178,628 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in shares of Chubb by 1,007,698.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock valued at $278,454,000 after purchasing an additional 1,007,698 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Chubb by 41,494.7% during the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock worth $224,566,000 after buying an additional 810,807 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 1.3 %

Shares of NYSE:CB opened at $284.71 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company has a market cap of $114.08 billion, a PE ratio of 12.53, a P/E/G ratio of 3.36 and a beta of 0.47. The stock’s 50-day moving average is $283.58 and its 200 day moving average is $281.24. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $306.91.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Sell-side analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a dividend of $0.91 per share. The ex-dividend date was Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. Chubb’s payout ratio is 16.02%.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock worth $18,562,730 in the last three months. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CB shares. Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of Chubb in a research report on Thursday, January 30th. Jefferies Financial Group increased their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods decreased their target price on shares of Chubb from $329.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus price target of $307.21.

Chubb Company Profile

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.