Clark Capital Management Group Inc. Reduces Position in Chubb Limited $CB

Key Points

• Clark Capital Management Group trimmed its Chubb stake by 2.2% in the fourth quarter, though it still held 433,381 shares valued at about $135.3 million.
• Chubb reported Q1 EPS of $6.82 on revenue of $14.93 billion, with analysts expecting about $26.8 EPS for the full year.
• The insurer raised its quarterly dividend to $1.02 per share from $0.97, bringing the annualized payout to $4.08 and a yield of about 1.2%.

Clark Capital Management Group Inc. lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 433,381 shares of the financial services provider's stock after selling 9,673 shares during the period. Chubb makes up about 0.8% of Clark Capital Management Group Inc.'s portfolio, making the stock its 27th biggest position. Clark Capital Management Group Inc. owned approximately 0.11% of Chubb worth $135,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Chubb in the 3rd quarter valued at $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb in the 4th quarter valued at $31,000. Ares Financial Consulting LLC purchased a new stake in shares of Chubb in the 4th quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC boosted its holdings in shares of Chubb by 38.3% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Shares of NYSE CB opened at $328.89 on Wednesday. The company's fifty day moving average price is $324.90 and its 200 day moving average price is $319.53. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a market capitalization of $127.56 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

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

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, June 12th. Chubb's payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CB shares. Jefferies Financial Group dropped their price objective on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Evercore upped their price objective on shares of Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Chubb from $321.00 to $333.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Citizens Jmp upped their price objective on shares of Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a report on Wednesday, April 22nd. Finally, Bank of America dropped their price objective on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Chubb has an average rating of "Hold" and an average price target of $349.10.

Insiders Place Their Bets

In related news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the sale, the director directly owned 25,468 shares of the company's stock, 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 filing with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the 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 sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

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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