Chubb Limited $CB Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its Chubb stake by 2.7% in the fourth quarter, selling 54,591 shares and leaving it with about 1.96 million shares valued at roughly $612.6 million.
• Institutional ownership remains heavy, with 83.81% of Chubb’s stock held by institutional investors and hedge funds; notable recent buyers include Berkshire Hathaway and Norges Bank.
• Analysts are broadly constructive on the stock, with a consensus “Moderate Buy” rating and an average price target of $349.90, while Chubb recently traded at $313.03 after reporting quarterly EPS of $6.82.

Bank of New York Mellon Corp trimmed its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,962,700 shares of the financial services provider's stock after selling 54,591 shares during the period. Bank of New York Mellon Corp owned about 0.50% of Chubb worth $612,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. Berkshire Hathaway Inc grew its holdings in Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. Norges Bank acquired a new stake in Chubb in the fourth quarter valued at approximately $1,081,190,000. AQR Capital Management LLC grew its holdings in Chubb by 75.1% in the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock valued at $785,468,000 after purchasing an additional 1,199,963 shares during the period. Woodline Partners LP acquired a new stake in Chubb in the third quarter valued at approximately $220,217,000. Finally, Amundi grew its holdings in Chubb by 55.4% in the third quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock valued at $557,493,000 after purchasing an additional 693,740 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CB. JPMorgan Chase & Co. raised their price objective on Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a report on Monday, April 20th. HSBC raised their price objective on Chubb from $362.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Evercore raised their price objective on Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Mizuho dropped their price objective on Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Finally, Citigroup raised their price objective on Chubb from $335.00 to $385.00 and gave the company a "buy" rating in a report on Monday, February 9th. Two investment 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 given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $349.90.

Chubb Stock Performance

Shares of NYSE:CB opened at $313.03 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The business's 50 day moving average price is $324.83 and its 200-day moving average price is $317.68. The firm has a market capitalization of $121.41 billion, a PE ratio of 11.05, a P/E/G ratio of 1.59 and a beta of 0.41. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, equities research analysts expect that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the business's 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 transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This trade represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company's stock.

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.

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