M&T Bank Corp Trims Stake in Chubb Limited $CB

Key Points

• M&T Bank Corp cut its stake in Chubb by 98.3% in Q4, selling 84,444 shares and ending the quarter with 1,442 shares valued at about $450,000.
• Company insiders have been net sellers, offloading 44,877 shares worth roughly $14.9 million in the past three months, including CEO Evan G. Greenberg and EVP Timothy Boroughs, leaving insiders with about 0.37% ownership.
• Chubb reported strong recent results (Q: $6.82 EPS, revenue $14.93B), has a market cap of about $126.6B, a quarterly dividend of $0.97 (1.2% yield), and carries an average analyst target of $349.33 with a "Moderate Buy" consensus.

M&T Bank Corp reduced its position in Chubb Limited (NYSE:CB - Free Report) by 98.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,442 shares of the financial services provider's stock after selling 84,444 shares during the period. M&T Bank Corp's holdings in Chubb were worth $450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Caliber Wealth Management LLC KS lifted its holdings in shares of Chubb by 6.1% in the 4th quarter. Caliber Wealth Management LLC KS now owns 11,714 shares of the financial services provider's stock valued at $3,656,000 after purchasing an additional 669 shares during the last quarter. Bigelow Investment Advisors LLC purchased a new stake in shares of Chubb in the 4th quarter valued at about $203,000. Crown Wealth Group LLC lifted its holdings in shares of Chubb by 6.9% in the 4th quarter. Crown Wealth Group LLC now owns 808 shares of the financial services provider's stock valued at $252,000 after purchasing an additional 52 shares during the last quarter. Planned Solutions Inc. lifted its holdings in shares of Chubb by 21.5% in the 4th quarter. Planned Solutions Inc. now owns 1,130 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 200 shares during the last quarter. Finally, Optas LLC lifted its holdings in shares of Chubb by 19.9% in the 4th quarter. Optas LLC now owns 1,085 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 180 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Down 0.2%

Shares of Chubb stock opened at $326.39 on Friday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The company's 50-day simple moving average is $329.03 and its 200-day simple moving average is $311.15. The firm has a market cap of $126.59 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.67 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 earnings per share (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 research analysts anticipate that Chubb Limited will post 26.74 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb's dividend payout ratio (DPR) is currently 13.70%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CB. Morgan Stanley set a $350.00 target price on Chubb in a report on Friday, January 16th. Bank of America reduced their price objective on Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Piper Sandler upped their price objective on Chubb from $319.00 to $328.00 and gave the company a "neutral" rating in a research note on Wednesday, April 22nd. Mizuho reduced their price objective on Chubb from $336.00 to $335.00 and set a "neutral" rating for the company in a research note on Tuesday, April 14th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $315.00 price objective on shares of Chubb in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $349.33.

Insider Activity

In other news, CEO Evan G. Greenberg sold 15,060 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 511,576 shares of the company's stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president directly owned 11,810 shares of the company's stock, valued at $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,877 shares of company stock valued at $14,885,226 in the last three months. 0.37% of the stock is currently owned by company insiders.

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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