Chubb Limited $CB Stock Position Reduced by Berry Wealth Group LP

Key Points

• Berry Wealth Group LP cut its Chubb position by 64.7%, selling 8,838 shares in Q3 and ending the quarter with 4,821 shares worth $1.36M, making Chubb about 4.4% of the firm's portfolio and its 8th largest holding.
• Senior insiders sold sizable stakes: CEO Evan G. Greenberg sold 15,060 shares (a 2.86% reduction) and EVP Timothy Boroughs sold 27,817 shares (a 70.2% reduction), leaving insiders with a 0.77% ownership stake.
• Operational and shareholder updates: Chubb topped EPS estimates with $7.52 vs. $6.33 consensus and reported revenue up 8.9% YoY, and the company declared a $0.97 quarterly dividend ($3.88 annual, ~1.2% yield; ex-dividend March 13).

Berry Wealth Group LP decreased its position in Chubb Limited (NYSE:CB - Free Report) by 64.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,821 shares of the financial services provider's stock after selling 8,838 shares during the period. Chubb accounts for approximately 4.4% of Berry Wealth Group LP's investment portfolio, making the stock its 8th largest position. Berry Wealth Group LP's holdings in Chubb were worth $1,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CB. Westbourne Investment Advisors Inc. raised its position in Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider's stock valued at $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Chubb by 166.3% during the third quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider's stock worth $1,046,000 after buying an additional 2,315 shares during the period. Caprock Group LLC purchased a new stake in shares of Chubb during the third quarter worth approximately $3,123,000. Liberty One Investment Management LLC acquired a new stake in Chubb in the third quarter valued at approximately $51,167,000. Finally, Cooke & Bieler LP lifted its stake in Chubb by 21.3% in the third quarter. Cooke & Bieler LP now owns 606,011 shares of the financial services provider's stock worth $171,047,000 after acquiring an additional 106,237 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the business's 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 directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company's stock.

Chubb Stock Down 0.5%

CB opened at $332.51 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The stock has a market capitalization of $129.73 billion, a P/E ratio of 12.92, a P/E/G ratio of 2.13 and a beta of 0.46. The business has a 50 day simple moving average of $317.91 and a 200-day simple moving average of $297.29.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping analysts' consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. The firm's revenue was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. HSBC raised their price target on Chubb from $354.00 to $357.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Wells Fargo & Company increased their price objective on Chubb from $305.00 to $322.00 and gave the company an "equal weight" rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods raised their target price on Chubb from $355.00 to $373.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Bank of America decreased their target price on Chubb from $279.00 to $259.00 and set an "underperform" rating for the company in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a "buy (b+)" rating on shares of Chubb in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $340.81.

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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