Glenview Trust Co Sells 8,645 Shares of Chubb Limited $CB

Key Points

• Glenview Trust Co reduced its Chubb stake by 19.8% in the fourth quarter, selling 8,645 shares and ending with 35,034 shares valued at about $10.9 million.
• Wall Street remains cautiously positive on Chubb, with analysts assigning a “Moderate Buy” consensus rating and an average price target of $349.33 after several firms raised their targets.
• Chubb reported solid fundamentals, including quarterly EPS of $6.82, revenue of $14.93 billion, and a quarterly dividend of $0.97 per share, equal to a 1.2% annualized yield.

Glenview Trust Co cut its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 19.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,034 shares of the financial services provider's stock after selling 8,645 shares during the period. Glenview Trust Co's holdings in Chubb were worth $10,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KERR FINANCIAL PLANNING Corp bought a new position in shares of Chubb in the third quarter worth approximately $31,000. Laurel Wealth Advisors LLC bought a new position in shares of Chubb in the fourth quarter worth approximately $31,000. Ares Financial Consulting LLC bought a new position in shares of Chubb in the fourth quarter worth approximately $32,000. Cornerstone Planning Group LLC increased its position in shares of Chubb by 81.5% in the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider's stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new position in shares of Chubb in the fourth quarter worth approximately $40,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CB. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Raymond James Financial upped their price objective on shares of Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a research report on Monday, February 9th. Evercore upped their price objective on shares of Chubb from $347.00 to $349.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Citigroup upped their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $349.33.

Insider Buying and Selling at Chubb

In other 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 transaction of $658,600.00. Following the completion of the sale, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.37% of the company's stock.

Chubb Stock Up 0.0%

Shares of NYSE CB opened at $328.03 on Monday. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. 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 firm's 50 day simple moving average is $326.50 and its two-hundred day simple moving average is $316.08. The stock has a market capitalization of $127.23 billion, a P/E ratio of 11.58, a PEG ratio of 1.68 and a beta of 0.43.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly 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, analysts expect that Chubb Limited will post 26.78 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb's dividend payout ratio is 13.70%.

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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