Kingsview Wealth Management LLC Raises Stock Holdings in Chubb Limited $CB

Kingsview Wealth Management LLC boosted its holdings in shares of Chubb Limited (NYSE:CB) by 188.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,642 shares of the financial services provider’s stock after purchasing an additional 9,572 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Chubb were worth $4,133,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Chubb during the second quarter worth approximately $1,195,137,000. Bank of America Corp DE boosted its stake in 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 valued at $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. London Co. of Virginia grew its holdings in Chubb by 211.0% during the 2nd quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after acquiring an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC increased its position in shares of Chubb by 46.9% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after purchasing an additional 444,557 shares during the last quarter. Finally, Troy Asset Management Ltd increased its position in shares of Chubb by 89.1% in the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock worth $229,872,000 after purchasing an additional 373,872 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 target price on shares of Chubb in a research report on Thursday, February 5th. Jefferies Financial Group lifted their price objective on shares of Chubb from $326.00 to $333.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, HSBC lifted their price target on shares of Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average price target of $340.81.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $338.07 on Wednesday. The firm has a fifty day moving average of $317.11 and a 200-day moving average of $296.78. The company has a market cap of $131.90 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 2.18 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.02 EPS. As a group, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s payout ratio is 15.08%.

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.