Chubb Limited $CB Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. cut its Chubb stake by 5.3% in the first quarter, selling 54,846 shares and leaving it with 971,185 shares valued at about $316.5 million.
• Chubb also saw insider selling: COO John W. Keogh sold 23,000 shares at an average price of $321.51, reducing his ownership by 10.16%.
• Analysts remain mixed on the stock, with a consensus Hold rating and average price target of $352.90, even as Chubb recently raised its quarterly dividend to $1.02 per share.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 971,185 shares of the financial services provider's stock after selling 54,846 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Chubb worth $316,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its stake in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after purchasing an additional 31 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in Chubb by 1.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock valued at $521,000 after purchasing an additional 31 shares during the last quarter. Hoxton Planning & Management LLC increased its stake in Chubb by 4.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 31 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in Chubb by 2.7% during the fourth quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock worth $405,000 after purchasing an additional 34 shares in the last quarter. Finally, Wright Investors Service Inc. raised its holdings in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock worth $1,538,000 after purchasing an additional 34 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CB has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company lifted their price target on shares of Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Barclays set a $387.00 price target on shares of Chubb in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research note on Monday, March 23rd. Finally, Citizens Jmp raised their price objective on Chubb from $350.00 to $365.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $352.90.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Chubb Price Performance

CB stock opened at $355.12 on Thursday. The company has a market capitalization of $137.74 billion, a P/E ratio of 12.54, a PEG ratio of 1.84 and a beta of 0.40. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $365.29. The business has a 50 day simple moving average of $329.14 and a 200-day simple moving average of $324.08. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion for the quarter. As a group, equities analysts anticipate that Chubb Limited will post 26.77 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. This is an increase from Chubb's previous quarterly dividend of $0.97. Chubb's payout ratio is 14.41%.

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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