Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 573 Shares of Chubb Limited (NYSE:CB)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its position in shares of Chubb Limited (NYSE:CB) by 33.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137 shares of the financial services provider’s stock after selling 573 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Chubb were worth $257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG boosted its holdings in shares of Chubb by 426.8% during the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after acquiring an additional 13,059,385 shares during the period. Lazard Asset Management LLC boosted its holdings in Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after purchasing an additional 495,860 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Chubb by 19,454.2% during the fourth quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock worth $1,096,860,000 after purchasing an additional 482,854 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Chubb by 43.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider’s stock valued at $230,531,000 after buying an additional 334,970 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its stake in shares of Chubb by 155.8% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after buying an additional 324,019 shares during the period. 83.81% of the stock is owned by institutional investors.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the transaction, the executive vice president now directly owns 35,662 shares in the company, valued at $9,228,612.36. The disclosure for this sale can be found here. Insiders sold a total of 143,570 shares of company stock worth $36,752,777 over the last three months. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

CB has been the topic of a number of recent research reports. Citigroup restated a “neutral” rating and set a $275.00 price objective (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Evercore ISI boosted their price target on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Royal Bank of Canada reduced their price objective on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Morgan Stanley lifted their price target on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company boosted their target price on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus target price of $266.74.

Chubb Price Performance

Shares of NYSE:CB opened at $254.04 on Friday. The firm has a market cap of $103.16 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $260.58. The firm’s fifty day moving average is $251.81 and its 200-day moving average is $237.86.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.41 earnings per share. Sell-side analysts predict that Chubb Limited will post 21.18 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s dividend payout ratio is currently 15.27%.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.