Chubb Limited $CB Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in Chubb Limited (NYSE:CB) by 17.7% in the 1st quarter, HoldingsChannel reports. The fund owned 169,121 shares of the financial services provider’s stock after selling 36,392 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chubb were worth $55,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC lifted its stake in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth about $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Chubb in the 3rd quarter valued at about $31,000. Laurel Wealth Advisors LLC purchased a new stake in Chubb in the 4th quarter valued at about $31,000. Finally, Ares Financial Consulting LLC acquired a new position in Chubb in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, 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 value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CB shares. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $315.00 price objective on shares of Chubb in a research report on Wednesday, April 22nd. Evercore lifted their target price on shares of Chubb from $347.00 to $349.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Bank of America cut their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $349.10.

Chubb Stock Up 0.4%

Shares of CB opened at $342.93 on Tuesday. The stock has a market capitalization of $133.01 billion, a PE ratio of 12.11, a P/E/G ratio of 1.74 and a beta of 0.41. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The company’s 50-day simple moving average is $325.43 and its 200-day simple moving average is $321.78.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 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 during the quarter. Analysts forecast that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio is 14.41%.

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.