Chubb Limited $CB Stock Holdings Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in Chubb Limited (NYSE:CB) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 889,139 shares of the financial services provider’s stock after selling 6,154 shares during the quarter. PNC Financial Services Group Inc. owned about 0.22% of Chubb worth $257,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. IMA Advisory Services Inc. acquired a new position in Chubb during the first quarter valued at approximately $31,000. 1248 Management LLC bought a new stake in shares of Chubb during the 1st quarter worth $31,000. WPG Advisers LLC acquired a new position in Chubb in the 1st quarter valued at $33,000. Maseco LLP acquired a new position in Chubb during the 2nd quarter worth $35,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Chubb by 391.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock valued at $36,000 after buying an additional 94 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. JMP Securities restated a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research report on Wednesday, October 22nd. BMO Capital Markets reissued a “market perform” rating and issued a $283.00 price target on shares of Chubb in a report on Thursday, October 23rd. Morgan Stanley decreased their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average price target of $307.79.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 23,698 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. This trade represents a 20.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Up 1.4%

NYSE CB opened at $292.30 on Wednesday. The stock’s 50 day simple moving average is $279.37 and its 200 day simple moving average is $280.68. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The firm has a market cap of $115.04 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $14.87 billion during the quarter, compared to analyst estimates of $12.95 billion. During the same period last year, the company posted $5.72 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 12th. Chubb’s payout ratio is 16.19%.

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.