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

Woodley Farra Manion Portfolio Management Inc. cut its position in Chubb Limited (NYSE:CB) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,521 shares of the financial services provider’s stock after selling 2,900 shares during the period. Chubb accounts for 3.6% of Woodley Farra Manion Portfolio Management Inc.’s investment portfolio, making the stock its 5th largest holding. Woodley Farra Manion Portfolio Management Inc. owned approximately 0.06% of Chubb worth $71,623,000 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 company. XXEC Inc. purchased a new stake in Chubb in the second quarter valued at $228,226,000. Berkshire Hathaway Inc acquired a new position in Chubb in the second quarter valued at $11,670,067,000. BlackRock Inc. acquired a new position in Chubb in the second quarter valued at $9,913,336,000. GQG Partners LLC acquired a new position in Chubb in the second quarter valued at $4,250,113,000. Finally, Bank of America Corp DE grew its holdings in shares of Chubb by 3.1% during the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after purchasing an additional 147,876 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their price target on Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Mizuho increased their price objective on Chubb from $336.00 to $350.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Chubb from $371.00 to $374.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Chubb from $343.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $362.78.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 13,889 shares of Chubb stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $360.02, for a total value of $5,000,317.78. Following the completion of the sale, the chief executive officer directly owned 277,274 shares of the company’s stock, valued at approximately $99,824,185.48. The trade was a 4.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Connors sold 5,500 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,985 shares of company stock worth $11,748,463. 0.37% of the stock is owned by insiders.

Chubb Price Performance

Chubb stock 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 company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. The business has a fifty day moving average of $347.10 and a two-hundred day moving average of $336.14. The company has a market cap of $141.12 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same period in the previous year, the firm posted $7.49 earnings per share. As a group, analysts predict that Chubb Limited will post 28.89 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. Chubb’s dividend payout ratio is presently 14.28%.

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.