PNC Financial Services Group Inc. Sells 6,154 Shares of Chubb Limited $CB

PNC Financial Services Group Inc. lowered its stake in Chubb Limited (NYSE:CB) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 889,139 shares of the financial services provider’s stock after selling 6,154 shares during the period. PNC Financial Services Group Inc.’s holdings in Chubb were worth $257,601,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CB. GQG Partners LLC lifted its stake in Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after buying an additional 4,964,298 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock valued at $840,756,000 after purchasing an additional 30,334 shares in the last quarter. Nuveen LLC acquired a new stake in Chubb during the 1st quarter worth approximately $562,221,000. Finally, AQR Capital Management LLC lifted its stake in Chubb by 19.6% in the first quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock valued at $423,826,000 after buying an additional 231,404 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the sale, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and set a $283.00 price objective on shares of Chubb in a research report on Thursday, October 23rd. Evercore ISI increased their target price on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. UBS Group boosted their price target on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Finally, Bank of America upped their price target on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $307.79.

Chubb Stock Up 1.4%

CB stock opened at $292.30 on Wednesday. The firm has a market capitalization of $115.04 billion, a PE ratio of 12.20, a PEG ratio of 2.74 and a beta of 0.58. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The business’s 50 day simple moving average is $279.37 and its 200 day simple moving average is $280.68.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $14.87 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.72 earnings per share. As a group, research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

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.