Wells Fargo & Company MN Reduces Holdings in Chubb Limited $CB

Key Points

• Wells Fargo & Company MN reduced its Chubb stake by 2.2% in the fourth quarter, selling 107,784 shares and leaving it with 4.7 million shares valued at about $1.47 billion.
• Several other institutional investors made mixed moves in Chubb, while overall hedge funds and other institutions own 83.81% of the company’s stock.
• Chubb insiders also sold shares recently, and the company announced a higher quarterly dividend of $1.02 per share, up from $0.97, payable July 2.

Wells Fargo & Company MN lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,698,153 shares of the financial services provider's stock after selling 107,784 shares during the period. Wells Fargo & Company MN owned approximately 1.19% of Chubb worth $1,466,387,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CB. Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Chubb by 1.3% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 647,401 shares of the financial services provider's stock worth $202,067,000 after buying an additional 8,035 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Chubb by 10.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 394,370 shares of the financial services provider's stock worth $123,091,000 after buying an additional 35,745 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Chubb by 0.7% in the fourth quarter. Sumitomo Life Insurance Co. now owns 5,462 shares of the financial services provider's stock worth $1,705,000 after buying an additional 36 shares during the last quarter. Wealthspire Advisors LLC increased its stake in shares of Chubb by 41.4% in the fourth quarter. Wealthspire Advisors LLC now owns 6,643 shares of the financial services provider's stock worth $2,073,000 after buying an additional 1,945 shares during the last quarter. Finally, Howland Capital Management LLC increased its stake in shares of Chubb by 0.7% in the fourth quarter. Howland Capital Management LLC now owns 97,993 shares of the financial services provider's stock worth $30,679,000 after buying an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other Chubb news, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction 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 completion of the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. The trade was 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 available at this link. Also, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction 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 directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on CB shares. Cantor Fitzgerald restated a "neutral" rating and issued a $315.00 price target on shares of Chubb in a research note on Wednesday, April 22nd. The Goldman Sachs Group dropped their price target on shares of Chubb from $372.00 to $362.00 and set a "buy" rating for the company in a research note on Monday, June 8th. Piper Sandler lifted 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. Barclays dropped their price target on shares of Chubb from $375.00 to $368.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Weiss Ratings upgraded shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $349.10.

Chubb Stock Up 0.0%

CB stock opened at $328.06 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The firm has a fifty day moving average price of $324.93 and a two-hundred day moving average price of $318.94. The firm has a market cap of $127.24 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.67 and a beta of 0.41.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share 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 during the quarter. Research analysts predict that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's payout ratio is presently 13.70%.

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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