Chubb Limited $CB Stake Cut by Wilkins Investment Counsel Inc.

Wilkins Investment Counsel Inc. lessened its stake in shares of Chubb Limited (NYSE:CB) by 4.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 77,492 shares of the financial services provider’s stock after selling 3,626 shares during the period. Chubb accounts for about 3.1% of Wilkins Investment Counsel Inc.’s portfolio, making the stock its 7th largest position. Wilkins Investment Counsel Inc.’s holdings in Chubb were worth $21,872,000 at the end of the most recent reporting period.

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

Chubb Stock Performance

NYSE:CB opened at $299.91 on Thursday. The company has a market cap of $118.03 billion, a P/E ratio of 12.52, a P/E/G ratio of 3.35 and a beta of 0.51. The firm’s 50 day moving average is $303.73 and its two-hundred day moving average is $286.30. Chubb Limited has a fifty-two week low of $263.14 and a fifty-two week high of $316.94. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. The company had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.72 EPS. Analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares in the company, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 16,375 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the sale, the insider directly owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. This trade represents a 18.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,333 shares of company stock worth $16,629,873 over the last three months. 0.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CB has been the subject of a number of analyst reports. Evercore ISI reissued an “outperform” rating and issued a $346.00 price objective on shares of Chubb in a research report on Wednesday, January 7th. Wolfe Research lifted their target price on shares of Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Wells Fargo & Company boosted their price target on Chubb from $293.00 to $305.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Bank of America reduced their price target on Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a research note on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.81.

About Chubb

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.