Woodley Farra Manion Portfolio Management Inc. Sells 2,900 Shares of Chubb Limited $CB

Woodley Farra Manion Portfolio Management Inc. cut its stake in Chubb Limited (NYSE:CB) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 219,521 shares of the financial services provider’s stock after selling 2,900 shares during the period. Chubb accounts for approximately 3.6% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 5th largest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Chubb were worth $71,623,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Equitable Holdings Inc. purchased a new position in Chubb in the second quarter valued at approximately $4,139,000. Berkshire Hathaway Inc acquired a new stake in Chubb in the second quarter valued at approximately $11,670,067,000. XXEC Inc. acquired a new stake in Chubb in the second quarter valued at approximately $26,210,000. Douglas Lane & Associates LLC raised its stake in shares of Chubb by 2,748.0% during the third quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock valued at $152,084,000 after purchasing an additional 451,173 shares during the period. Finally, Glenview Trust Co purchased a new stake in shares of Chubb during the second quarter valued at approximately $11,147,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB opened at $369.34 on Wednesday. Chubb Limited has a one year low of $288.39 and a one year high of $384.26. The firm has a market capitalization of $141.12 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.29. The stock’s fifty day moving average is $347.10 and its 200-day moving average is $336.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. Chubb had a return on equity of 14.41% and a net margin of 18.15%. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same period in the previous year, the company earned $7.49 earnings per share. Equities analysts anticipate that Chubb Limited will post 28.89 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s dividend payout ratio is presently 14.28%.

Insider Activity at Chubb

In related news, EVP Timothy Boroughs sold 13,596 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the completion of the sale, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. This represents a 70.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Evan Greenberg sold 13,889 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the completion of the sale, the chief executive officer owned 277,274 shares in the company, valued at $99,824,185.48. This represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,985 shares of company stock valued at $11,748,463. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CB shares. UBS Group reaffirmed a “neutral” rating and set a $380.00 price target on shares of Chubb in a research note on Monday, October 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $333.00 price objective on shares of Chubb in a research report on Wednesday, October 21st. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research report on Wednesday, July 15th. Piper Sandler raised their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $362.78.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.