PNC Financial Services Group Inc. Has $271.73 Million Stake in Chubb Limited $CB

Key Points

• PNC Financial Services slightly trimmed its Chubb stake in the fourth quarter, selling 7,861 shares and ending with 870,582 shares worth about $271.7 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 83.81% of Chubb shares. Several other firms also made small portfolio adjustments during the period.
• Analysts remain cautiously positive: Chubb has a Moderate Buy consensus rating with an average target price of $349.33, while the stock recently traded around $330.20 after reporting quarterly EPS of $6.82 and paying a $0.97 quarterly dividend.

PNC Financial Services Group Inc. decreased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 870,582 shares of the financial services provider's stock after selling 7,861 shares during the quarter. PNC Financial Services Group Inc. owned about 0.22% of Chubb worth $271,726,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Kathmere Capital Management LLC grew its position in shares of Chubb by 2.7% during the 4th quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock worth $405,000 after buying an additional 34 shares during the period. Wright Investors Service Inc. grew its holdings in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock valued at $1,538,000 after purchasing an additional 34 shares during the period. G&S Capital LLC increased its stake in Chubb by 1.5% in the fourth quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider's stock valued at $709,000 after purchasing an additional 34 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 36 shares in the last quarter. Finally, Phoenix Wealth Advisors increased its stake in Chubb by 0.4% in the fourth quarter. Phoenix Wealth Advisors now owns 8,467 shares of the financial services provider's stock valued at $2,643,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Chubb from $374.00 to $375.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 22nd. Mizuho lowered their target price on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating for the company in a research note on Tuesday, April 14th. Jefferies Financial Group lowered their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. BMO Capital Markets upped their target price on shares of Chubb from $326.00 to $339.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Finally, Raymond James Financial upped their target price on shares of Chubb from $340.00 to $380.00 and gave the company a "strong-buy" rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $349.33.

Insider Buying and Selling at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by company insiders.

Chubb Stock Down 0.0%

Chubb stock opened at $330.20 on Wednesday. The stock has a market capitalization of $128.07 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $326.19 and a 200-day moving average of $315.00.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. On average, equities research analysts anticipate that Chubb Limited will post 26.78 EPS for the current fiscal year.

Chubb Announces Dividend

The business 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 was Friday, March 13th. Chubb's dividend payout ratio is 13.70%.

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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