Chubb Limited $CB Shares Sold by Barclays PLC

Key Points

• Barclays PLC reduced its Chubb stake by 10.2% in the fourth quarter, selling 127,268 shares and ending with 1,118,605 shares valued at about $349.1 million.
• Several other institutional investors increased holdings in Chubb, and hedge funds and institutions now own 83.81% of the company’s shares.
• Chubb raised its quarterly dividend to $1.02 per share from $0.97, while analysts currently hold a consensus rating of “Moderate Buy” with an average price target of $349.10.

Barclays PLC decreased its holdings in Chubb Limited (NYSE:CB - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,118,605 shares of the financial services provider's stock after selling 127,268 shares during the quarter. Barclays PLC owned 0.28% of Chubb worth $349,139,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Spire Wealth Management raised its holdings in shares of Chubb by 490.5% during the fourth quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock valued at $2,689,000 after acquiring an additional 7,156 shares during the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Chubb by 7.4% during the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock valued at $31,970,000 after acquiring an additional 7,043 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Chubb by 42.3% in the fourth 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 during the last quarter. waypoint wealth counsel increased its holdings in shares of Chubb by 76.4% in the fourth 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 during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Chubb by 884.1% in the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 8,947 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Activity at Chubb

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays cut their price target on Chubb from $375.00 to $368.00 and set an "equal weight" rating for the company in a report on Friday. Evercore increased their price target on Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Weiss Ratings raised Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, April 27th. HSBC increased their price target on Chubb from $362.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Finally, Bank of America cut their price target on Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Chubb has a consensus rating of "Moderate Buy" and an average price target of $349.10.

Chubb Trading Down 0.0%

Shares of Chubb stock opened at $328.06 on Monday. The firm has a market capitalization of $127.24 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.68 and a beta of 0.41. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average of $324.93 and a 200 day moving average of $319.10.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company 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, research analysts predict that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be given a $1.02 dividend. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio (DPR) is currently 14.41%.

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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