Kingsview Wealth Management LLC Sells 9,363 Shares of Chubb Limited $CB

Key Points

• Kingsview Wealth Management cut its Chubb stake by 63.9% in the fourth quarter, selling 9,363 shares and ending with 5,279 shares valued at about $1.65 million.
• Several other institutions also adjusted their Chubb holdings, and institutional investors now own 83.81% of the company’s stock.
• Chubb reported quarterly EPS of $6.82 on revenue of $14.93 billion, while analysts currently rate the stock “Moderate Buy” with an average price target of $349.90.

Kingsview Wealth Management LLC decreased its holdings in Chubb Limited (NYSE:CB - Free Report) by 63.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,279 shares of the financial services provider's stock after selling 9,363 shares during the period. Kingsview Wealth Management LLC's holdings in Chubb were worth $1,648,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CB. Spire Wealth Management raised its position in Chubb by 490.5% in the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock worth $2,689,000 after purchasing an additional 7,156 shares during the period. Chesley Taft & Associates LLC raised its position in Chubb by 7.4% in the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock worth $31,970,000 after purchasing an additional 7,043 shares during the period. Pallas Capital Advisors LLC raised its position in Chubb by 42.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider's stock worth $4,446,000 after purchasing an additional 4,233 shares during the period. waypoint wealth counsel raised its position in Chubb by 76.4% in the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock worth $1,285,000 after purchasing an additional 1,784 shares during the period. Finally, Caprock Group LLC purchased a new stake in Chubb in the 3rd quarter worth about $3,123,000. Institutional investors own 83.81% of the company's stock.

Chubb Price Performance

NYSE CB opened at $311.54 on Monday. 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 firm's 50 day moving average price is $325.57 and its 200-day moving average price is $317.31. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a market cap of $120.84 billion, a PE ratio of 11.00, a P/E/G ratio of 1.59 and a beta of 0.41.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data 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. Sell-side analysts forecast that Chubb Limited will post 26.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased 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. Wolfe Research increased their price objective on shares of Chubb from $372.00 to $373.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Wells Fargo & Company raised their target price on shares of Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Barclays raised their target price on shares of Chubb from $374.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, April 27th. Two investment 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 stock. According to MarketBeat, Chubb has a consensus rating of "Moderate Buy" and an average target price of $349.90.

Chubb Company 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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