Clark Capital Management Group Inc. Sells 139,156 Shares of Chubb Limited $CB

Clark Capital Management Group Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 23.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 443,054 shares of the financial services provider’s stock after selling 139,156 shares during the period. Chubb comprises approximately 0.8% of Clark Capital Management Group Inc.’s portfolio, making the stock its 26th largest position. Clark Capital Management Group Inc. owned about 0.11% of Chubb worth $125,052,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its stake in shares of Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. VSM Wealth Advisory LLC bought a new position in Chubb during the 2nd quarter worth approximately $32,000. Cornerstone Planning Group LLC increased its stake in Chubb by 81.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 53 shares during the period. Finally, Heartwood Wealth Advisors LLC purchased a new position in Chubb in the 3rd quarter worth approximately $34,000. 83.81% of the stock is owned by institutional investors.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

NYSE:CB opened at $329.24 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The stock has a market cap of $128.45 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46. The firm’s fifty day simple moving average is $319.55 and its 200 day simple moving average is $299.58.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same period last year, the company posted $6.02 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is 15.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America dropped their price objective on Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. Barclays lifted their target price on shares of Chubb from $317.00 to $339.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a research report on Monday, November 24th. Cantor Fitzgerald raised their price target on shares of Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $350.00 price objective on shares of Chubb in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $340.81.

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.