PNC Financial Services Group Inc. Sells 7,861 Shares of Chubb Limited $CB

PNC Financial Services Group Inc. lessened its holdings in Chubb Limited (NYSE:CB) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,582 shares of the financial services provider’s stock after selling 7,861 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Chubb were worth $271,726,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Berkshire Hathaway Inc lifted its position in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after purchasing an additional 4,299,111 shares in the last quarter. State Street Corp lifted its position in shares of Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of 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 purchasing an additional 427,512 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Chubb by 75.1% in the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after purchasing an additional 1,199,963 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Olivier Steimer sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the transaction, the director directly owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. Roth Mkm boosted their price objective on shares of Chubb from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Wolfe Research boosted their price objective on shares of Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Bank of America dropped their price target on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Finally, BMO Capital Markets upped their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.33.

Chubb Price Performance

NYSE:CB opened at $330.20 on Wednesday. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67. The firm has a market cap of $128.07 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.69 and a beta of 0.43. The firm’s 50-day simple moving average is $326.19 and its 200 day simple moving average is $315.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion for the quarter. As a group, sell-side analysts predict that Chubb Limited will post 26.78 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 13.70%.

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.