Hemenway Trust Co LLC Lowers Position in Chubb Limited (NYSE:CB)

Hemenway Trust Co LLC decreased its position in shares of Chubb Limited (NYSE:CB) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,860 shares of the financial services provider’s stock after selling 40 shares during the period. Hemenway Trust Co LLC’s holdings in Chubb were worth $514,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CB. Norges Bank bought a new stake in shares of Chubb during the fourth quarter valued at approximately $1,169,720,000. Raymond James Financial Inc. bought a new stake in shares of Chubb during the 4th quarter valued at $1,158,897,000. GQG Partners LLC grew its position 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 worth $1,223,932,000 after buying an additional 1,178,628 shares during the period. 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 worth $278,454,000 after acquiring an additional 1,007,698 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in 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 valued at $224,566,000 after acquiring an additional 810,807 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CB shares. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Piper Sandler lifted their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $303.14.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock worth $18,562,730 in the last quarter. Company insiders own 0.86% of the company’s stock.

Chubb Stock Down 7.2 %

CB opened at $280.74 on Friday. The stock has a market capitalization of $112.41 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.36 and a beta of 0.66. The firm has a 50 day moving average price of $282.25 and a 200-day moving average price of $281.81. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s payout ratio is currently 16.02%.

Chubb 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.