Modern Wealth Management LLC Has $2.20 Million Stock Position in Chubb Limited $CB

Modern Wealth Management LLC increased its stake in Chubb Limited (NYSE:CB) by 173.6% during the third quarter, Holdings Channel reports. The firm owned 7,780 shares of the financial services provider’s stock after acquiring an additional 4,936 shares during the period. Modern Wealth Management LLC’s holdings in Chubb were worth $2,196,000 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 the stock. Mitchell & Pahl Private Wealth LLC lifted its position in Chubb by 0.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock worth $2,083,000 after purchasing an additional 35 shares during the period. Golden State Wealth Management LLC increased its holdings in Chubb by 7.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock valued at $148,000 after buying an additional 36 shares during the period. Covestor Ltd increased its holdings in Chubb by 26.1% in the 3rd quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock valued at $51,000 after buying an additional 37 shares during the period. CENTRAL TRUST Co raised its position in shares of Chubb by 1.0% in the 3rd quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 37 shares in the last quarter. Finally, JT Stratford LLC raised its position in shares of Chubb by 3.5% in the 2nd quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock valued at $327,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent analyst reports. Evercore lifted their price objective on shares of Chubb from $346.00 to $347.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods raised their price objective on Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Jefferies Financial Group boosted their target price on Chubb from $326.00 to $333.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a report on Monday, December 29th. Finally, HSBC raised their price target on shares of Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus target price of $340.81.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at $3,920,683.80. The trade was a 70.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.86% of the stock is owned by company insiders.

Chubb Trading Down 1.4%

Shares of CB stock opened at $327.86 on Monday. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The stock’s fifty day simple moving average is $318.20 and its 200 day simple moving average is $297.97. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $127.92 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.06 and a beta of 0.46.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the company earned $6.02 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio (DPR) is 15.08%.

About Chubb

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.