DAVENPORT & Co LLC Sells 57,085 Shares of Chubb Limited (NYSE:CB)

DAVENPORT & Co LLC lowered its position in shares of Chubb Limited (NYSE:CBFree Report) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,278 shares of the financial services provider’s stock after selling 57,085 shares during the quarter. DAVENPORT & Co LLC owned 0.06% of Chubb worth $55,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CB. ICA Group Wealth Management LLC purchased a new position in Chubb in the 4th quarter valued at approximately $25,000. IMA Wealth Inc. grew its stake in Chubb by 275.7% in the 2nd quarter. IMA Wealth Inc. now owns 139 shares of the financial services provider’s stock valued at $27,000 after buying an additional 102 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Chubb in the 3rd quarter valued at approximately $28,000. ZRC Wealth Management LLC purchased a new position in Chubb in the 4th quarter valued at approximately $29,000. Finally, Bell Investment Advisors Inc grew its stake in Chubb by 39.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 208 shares of the financial services provider’s stock valued at $43,000 after buying an additional 59 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In related news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the completion of the transaction, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at $12,879,483.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares in the company, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,043 shares of company stock valued at $29,766,694. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 0.4 %

Chubb stock traded down $1.00 during mid-day trading on Tuesday, hitting $256.40. The company’s stock had a trading volume of 928,934 shares, compared to its average volume of 1,766,739. The stock has a market cap of $104.04 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.22 and a beta of 0.62. The business has a 50 day moving average price of $251.26 and a 200-day moving average price of $230.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a 12 month low of $183.71 and a 12 month high of $260.58.

Chubb (NYSE:CBGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $8.30 EPS for the quarter, beating the consensus estimate of $5.07 by $3.23. The firm had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $12.88 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. As a group, analysts forecast that Chubb Limited will post 21.16 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is 15.76%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JMP Securities lifted their price objective on shares of Chubb from $250.00 to $280.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets boosted their price target on shares of Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research report on Monday, February 5th. UBS Group boosted their price target on shares of Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. StockNews.com upgraded shares of Chubb from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, TD Cowen assumed coverage on shares of Chubb in a research report on Wednesday, January 10th. They set a “market perform” rating and a $254.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Moderate Buy” and a consensus target price of $257.56.

Read Our Latest Stock Analysis on Chubb

Chubb Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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