Chubb Limited (NYSE:CB) Shares Sold by Summit Global Investments

Summit Global Investments cut its position in shares of Chubb Limited (NYSE:CB) by 6.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,347 shares of the financial services provider’s stock after selling 100 shares during the quarter. Summit Global Investments’ holdings in Chubb were worth $372,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CB. Nwam LLC purchased a new stake in Chubb in the 3rd quarter worth approximately $273,000. Kingsview Wealth Management LLC raised its stake in shares of Chubb by 12.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,043 shares of the financial services provider’s stock valued at $1,743,000 after acquiring an additional 686 shares in the last quarter. Swedbank AB grew its holdings in Chubb by 3.3% during the third quarter. Swedbank AB now owns 259,288 shares of the financial services provider’s stock valued at $74,776,000 after purchasing an additional 8,328 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Chubb by 146.7% in the third quarter. Larson Financial Group LLC now owns 565 shares of the financial services provider’s stock worth $163,000 after buying an additional 336 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in Chubb by 35.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,326 shares of the financial services provider’s stock worth $1,830,000 after acquiring an additional 1,649 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CB shares. Keefe, Bruyette & Woods raised their target price on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays decreased their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and an average target price of $301.00.

Chubb Price Performance

Shares of CB stock opened at $291.52 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $116.73 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.36 and a beta of 0.66. The firm’s 50 day moving average is $277.16 and its 200-day moving average is $281.22. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $302.05.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s payout ratio is presently 16.02%.

Insider Activity

In other news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the sale, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This trade represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by insiders.

Chubb 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.