Nicholas Wealth LLC. Reduces Stock Position in Chubb Limited $CB

Nicholas Wealth LLC. lessened its holdings in shares of Chubb Limited (NYSE:CB) by 83.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 779 shares of the financial services provider’s stock after selling 3,910 shares during the period. Nicholas Wealth LLC.’s holdings in Chubb were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CB. Berkshire Hathaway Inc lifted its holdings in Chubb by 9.3% in 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 buying an additional 2,916,288 shares during the period. State Street Corp increased its stake in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Chubb by 25.6% during the fourth 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 acquiring an additional 3,049,987 shares in the last quarter. GQG Partners LLC lifted its stake in Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after acquiring an additional 1,647,729 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after acquiring an additional 427,512 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CB shares. Evercore boosted their price objective on shares of Chubb from $347.00 to $349.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $373.00 to $374.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Barclays reduced their price target on shares of Chubb from $375.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Friday, June 12th. Mizuho decreased their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Finally, Bank of America lowered their price objective on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $349.10.

Chubb Price Performance

CB stock opened at $341.19 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50 day moving average price of $325.13 and a 200-day moving average price of $321.31. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The firm has a market capitalization of $132.33 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.74 and a beta of 0.41.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion for the quarter. Equities research analysts forecast that Chubb Limited will post 26.8 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a $1.02 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. Chubb’s payout ratio is currently 14.41%.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Chubb Company 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.