Vest Financial LLC Raises Holdings in Chubb Limited $CB

Vest Financial LLC increased its position in shares of Chubb Limited (NYSE:CB) by 10.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 390,939 shares of the financial services provider’s stock after buying an additional 37,343 shares during the quarter. Chubb accounts for about 1.4% of Vest Financial LLC’s portfolio, making the stock its 2nd biggest holding. Vest Financial LLC’s holdings in Chubb were worth $110,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Chubb by 0.6% in the second quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock valued at $10,643,993,000 after purchasing an additional 210,053 shares during the last quarter. Geode Capital Management LLC lifted its position in Chubb by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock worth $2,541,771,000 after buying an additional 30,721 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Chubb by 11.6% during the 2nd 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 buying an additional 513,852 shares during the last quarter. Norges Bank acquired a new stake in shares of Chubb in the second quarter valued at about $1,195,137,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Chubb by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock worth $652,915,000 after acquiring an additional 18,820 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.0%

Shares of NYSE:CB opened at $300.87 on Wednesday. Chubb Limited has a 12-month low of $263.14 and a 12-month high of $316.94. The business has a 50 day moving average of $303.63 and a 200-day moving average of $286.20. 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 stock has a market cap of $118.41 billion, a PE ratio of 12.56, a P/E/G ratio of 3.34 and a beta of 0.51.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period last year, the firm posted $5.72 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

Insider Activity

In related news, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president directly owned 60,593 shares in the company, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 850 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $295.19, for a total transaction of $250,911.50. Following the transaction, the executive vice president directly owned 1,585 shares in the company, valued at approximately $467,876.15. This represents a 34.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 57,333 shares of company stock valued at $16,629,873. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CB. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. raised their target price on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $283.00 price target on shares of Chubb in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Finally, Cantor Fitzgerald boosted their price objective on shares of Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $323.81.

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.