Capital Research Global Investors Cuts Stock Position in Chubb Limited $CB

Key Points

• Capital Research Global Investors cut its stake in Chubb by 12.0% in Q3, selling 796,702 shares and now holds 5,863,462 shares (about 1.49% ownership) valued at roughly $1.655 billion.
• Chubb beat quarterly EPS estimates with $7.52 vs. $6.33 and reported revenue up 8.9% year‑over‑year, and it declared a quarterly dividend of $0.97 per share (annualized $3.88, yield ~1.2%, ex‑dividend March 13).
• Senior insiders have been selling recently: CEO Evan G. Greenberg sold 15,060 shares (~$5.0M) and EVP Timothy Boroughs sold 27,817 shares (~$9.2M), with insiders now owning about 0.86% of the company.

Capital Research Global Investors cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,863,462 shares of the financial services provider's stock after selling 796,702 shares during the period. Capital Research Global Investors owned approximately 1.49% of Chubb worth $1,654,957,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Chubb by 0.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider's stock valued at $2,083,000 after purchasing an additional 35 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider's stock worth $148,000 after buying an additional 36 shares during the last quarter. Covestor Ltd increased its stake in shares of Chubb by 26.1% in the 3rd quarter. Covestor Ltd now owns 179 shares of the financial services provider's stock worth $51,000 after purchasing an additional 37 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Chubb by 1.0% during the 3rd quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider's stock valued at $1,008,000 after acquiring an additional 37 shares during the period. Finally, JT Stratford LLC increased its stake in shares of Chubb by 3.5% in the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider's stock worth $327,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Trading Down 1.2%

Shares of Chubb stock opened at $323.95 on Tuesday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The firm has a market capitalization of $126.39 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.06 and a beta of 0.46. The stock has a 50 day moving average of $318.39 and a 200 day moving average of $298.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same quarter last year, the firm posted $6.02 earnings per share. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio (DPR) is presently 15.08%.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent research reports. Mizuho upped their price objective on Chubb from $317.00 to $336.00 and gave the company a "neutral" rating in a research report on Friday, February 6th. Bank of America dropped their target price on shares of Chubb from $279.00 to $259.00 and set an "underperform" rating on the stock in a research note on Friday, January 16th. Citizens Jmp reiterated a "market outperform" rating and issued a $350.00 price target on shares of Chubb in a report on Wednesday, February 4th. Jefferies Financial Group increased their price target on Chubb from $326.00 to $333.00 and gave the stock a "hold" rating in a research report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods increased their price objective on Chubb from $355.00 to $373.00 and gave the company an "outperform" rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chubb presently has an average rating of "Hold" and an average price target of $340.81.

Insiders Place Their Bets

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

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.

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