NewEdge Wealth LLC Sells 7,336 Shares of Chubb Limited $CB

NewEdge Wealth LLC reduced its holdings in Chubb Limited (NYSE:CB) by 36.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 12,590 shares of the financial services provider’s stock after selling 7,336 shares during the quarter. NewEdge Wealth LLC’s holdings in Chubb were worth $4,103,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Berkshire Hathaway Inc grew its holdings in shares of Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares during the period. State Street Corp raised its position in shares of Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. GQG Partners LLC increased its stake in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after purchasing an additional 1,647,729 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after buying an additional 513,852 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wolfe Research boosted their price target on Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Cantor Fitzgerald lifted their price target on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays set a $387.00 price objective on Chubb in a research report on Tuesday, July 7th. BMO Capital Markets upped their target price on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Wells Fargo & Company cut their price objective on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $360.09.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $359.78 on Friday. The firm has a fifty day simple moving average of $335.55 and a two-hundred day simple moving average of $327.09. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $139.55 billion, a P/E ratio of 12.73, a PEG ratio of 1.77 and a beta of 0.40. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $16.01 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.14 EPS. On average, analysts expect that Chubb Limited will post 27.08 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

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.