Welch & Forbes LLC Sells 4,485 Shares of Chubb Limited $CB

Key Points

• Welch & Forbes LLC reduced its Chubb stake by 1.1% in the fourth quarter, selling 4,485 shares and leaving it with 393,955 shares valued at about $122.96 million.
• Several analysts recently raised price targets on Chubb, and the stock currently carries a “Moderate Buy” consensus with an average target price of $349.90.
• Chubb insiders have also been selling shares, including Director Olivier Steimer and COO John W. Keogh, while the stock was trading around $311.54 and down 1.5% on the day.

Welch & Forbes LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393,955 shares of the financial services provider's stock after selling 4,485 shares during the period. Chubb accounts for about 1.5% of Welch & Forbes LLC's investment portfolio, making the stock its 18th biggest holding. Welch & Forbes LLC owned approximately 0.10% of Chubb worth $122,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CB. CBIZ Investment Advisory Services LLC raised its stake in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after buying an additional 49 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Chubb during the third quarter worth approximately $31,000. Laurel Wealth Advisors LLC bought a new stake in shares of Chubb during the fourth quarter worth approximately $31,000. Ares Financial Consulting LLC bought a new stake in shares of Chubb during the fourth quarter worth approximately $32,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Chubb by 81.5% during the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider's stock worth $33,000 after buying an additional 53 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CB shares. Piper Sandler boosted their price target on shares of Chubb from $328.00 to $340.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Wolfe Research boosted their price target on shares of Chubb from $372.00 to $373.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Citigroup boosted their price objective on shares of Chubb from $335.00 to $385.00 and gave the company a "buy" rating in a report on Monday, February 9th. The Goldman Sachs Group boosted their price objective on shares of Chubb from $368.00 to $372.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $373.00 to $374.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Two investment 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $349.90.

Insider Activity 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. Also, COO John W. Keogh sold 23,000 shares of the company's 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 completion of the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.

Chubb Stock Down 1.5%

Shares of NYSE CB opened at $311.54 on Friday. The stock has a market cap of $120.84 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.59 and a beta of 0.43. The firm has a 50 day moving average price of $325.57 and a 200 day moving average price of $317.11. 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 Limited has a 52-week low of $264.10 and a 52-week high of $345.67.

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%. Analysts expect that Chubb Limited will post 26.8 EPS for the current year.

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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