Chubb Limited $CB Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in Chubb Limited (NYSE:CB) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 402,757 shares of the financial services provider’s stock after selling 5,331 shares during the period. Glenmede Trust Co. NA’s holdings in Chubb were worth $131,271,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CB. Berkshire Hathaway Inc raised its holdings in Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares during the period. State Street Corp boosted its stake in Chubb by 0.4% during 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 buying an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the period. GQG Partners LLC increased its position in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after acquiring an additional 1,647,729 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Trading Up 0.3%

NYSE CB opened at $351.08 on Friday. The firm has a 50 day simple moving average of $338.33 and a 200-day simple moving average of $328.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.28 and a current ratio of 0.29. Chubb Limited has a one year low of $264.10 and a one year high of $365.91. The firm has a market cap of $135.45 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.73 and a beta of 0.40.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.14 earnings per share. Equities research analysts anticipate that Chubb Limited will post 27.4 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb’s payout ratio is presently 14.43%.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CB shares. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and upped their price objective for the stock from $370.00 to $373.00 in a report on Monday, July 6th. UBS Group lifted their target price on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Citigroup reissued a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $360.09.

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.