Chubb Limited $CB Position Cut by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC trimmed its Chubb stake by 3.3% in the fourth quarter, selling 6,867 shares and leaving it with 199,500 shares worth about $62.3 million.
• Several other institutional investors changed their positions as well, and overall 83.81% of Chubb’s stock is owned by institutions, indicating strong professional investor interest.
• Analysts remain mixed but generally positive: Chubb has a Moderate Buy consensus rating with a $349.33 target price, while the stock also recently paid a $0.97 quarterly dividend, equal to a 1.2% annual yield.

HighTower Advisors LLC trimmed its holdings in Chubb Limited (NYSE:CB - Free Report) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,500 shares of the financial services provider's stock after selling 6,867 shares during the quarter. HighTower Advisors LLC owned about 0.05% of Chubb worth $62,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CB. Spire Wealth Management boosted its stake in Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock valued at $2,689,000 after purchasing an additional 7,156 shares in the last quarter. Chesley Taft & Associates LLC boosted its stake in Chubb by 7.4% during the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock valued at $31,970,000 after purchasing an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in Chubb by 42.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider's stock valued at $4,446,000 after purchasing an additional 4,233 shares in the last quarter. Caprock Group LLC bought a new position in Chubb during the 3rd quarter valued at $3,123,000. Finally, waypoint wealth counsel boosted its stake in Chubb by 76.4% during the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after purchasing an additional 1,784 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a "neutral" rating and set a $340.00 price target on shares of Chubb in a research note on Monday, February 9th. Raymond James Financial raised their price objective on Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a research note on Monday, February 9th. Jefferies Financial Group reduced their price objective on Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. The Goldman Sachs Group raised their price objective on Chubb from $368.00 to $372.00 and gave the stock a "buy" rating in a research note on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.33.

Insider Activity

In other news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by insiders.

Chubb Stock Performance

CB opened at $328.70 on Thursday. The firm has a market cap of $127.49 billion, a PE ratio of 11.61, a P/E/G ratio of 1.69 and a beta of 0.43. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $326.29 and a 200-day simple moving average of $315.35. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, equities analysts predict that Chubb Limited will post 26.78 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were issued a $0.97 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio is presently 13.70%.

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.

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