PNC Financial Services Group Inc. Trims Stock Holdings in Chubb Limited $CB

PNC Financial Services Group Inc. decreased its holdings in Chubb Limited (NYSE:CB) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 848,391 shares of the financial services provider’s stock after selling 22,191 shares during the period. PNC Financial Services Group Inc.’s holdings in Chubb were worth $276,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new stake in Chubb during the 4th quarter valued at $205,000. Woodline Partners LP raised its holdings in Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after acquiring an additional 1,449 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after acquiring an additional 17,155 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup reiterated an “outperform” rating on shares of Chubb in a research report on Friday, July 10th. The Goldman Sachs Group increased their price objective on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Jefferies Financial Group cut their target price on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Bank of America reduced their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $359.09.

Chubb News Summary

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb reported Q2 earnings of $7.26 per share, topping consensus estimates and improving from $6.14 a year ago, which suggests stronger-than-expected profitability. Chubb (CB) Tops Q2 Earnings Estimates
• Positive Sentiment: The company said core operating income rose 14.6% and consolidated net premiums written increased 3.6% to $14.7 billion, signaling solid underwriting and premium growth. Chubb Reports Second Quarter Per Share Net Income…
• Positive Sentiment: The property and casualty combined ratio of 83.8% indicates strong underwriting discipline, which is favorable for insurers. Chubb Reports Second Quarter Per Share Net Income…
• Neutral Sentiment: JPMorgan raised its price target on Chubb to $370 while keeping a neutral rating, reflecting improved earnings expectations but not a strong change in stance. Benzinga report on JPMorgan price target increase
• Neutral Sentiment: Barclays reiterated a hold rating ahead of earnings, suggesting some analysts remained cautious despite the company’s strong fundamentals. Barclays Remains a Hold on Chubb (CB)

Chubb Stock Performance

Chubb stock opened at $355.04 on Wednesday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $137.71 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.40. The firm’s fifty day moving average price is $333.63 and its 200-day moving average price is $326.34.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.78 by $0.48. The company had revenue of $14.71 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.14 earnings per share. On average, equities research analysts expect that Chubb Limited will post 26.77 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is currently 14.41%.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Chubb 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.