Berkshire Bank Sells 215 Shares of Chubb Limited (NYSE:CB)

Berkshire Bank lowered its position in Chubb Limited (NYSE:CB) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,706 shares of the financial services provider’s stock after selling 215 shares during the period. Chubb accounts for 1.0% of Berkshire Bank’s portfolio, making the stock its 23rd largest holding. Berkshire Bank’s holdings in Chubb were worth $4,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Continuum Advisory LLC lifted its stake in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after buying an additional 35 shares during the period. Kozak & Associates Inc. acquired a new stake in shares of Chubb in the 3rd quarter valued at about $29,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Chubb during the third quarter worth about $29,000. Raelipskie Partnership bought a new position in shares of Chubb during the third quarter worth about $29,000. Finally, Truvestments Capital LLC acquired a new stake in Chubb in the 3rd quarter valued at approximately $30,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Performance

NYSE CB opened at $276.48 on Tuesday. The stock has a fifty day simple moving average of $276.24 and a 200 day simple moving average of $278.99. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05. The company has a market capitalization of $111.45 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 7.23 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period in the prior year, the firm posted $4.95 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Chubb Limited will post 21.95 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.91 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.32%. Chubb’s payout ratio is currently 14.91%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley increased their price target on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $294.00 to $296.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group increased their price objective on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America lifted their target price on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus target price of $288.17.

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.