Meridian Investment Counsel Inc. Has $1.94 Million Stake in Chubb Limited (NYSE:CB)

Meridian Investment Counsel Inc. cut its stake in Chubb Limited (NYSE:CB) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,034 shares of the financial services provider’s stock after selling 1,569 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Chubb were worth $1,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Chubb in the 4th quarter valued at about $1,169,720,000. Raymond James Financial Inc. purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $1,158,897,000. GQG Partners LLC lifted its holdings in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after acquiring an additional 1,178,628 shares during the period. Beutel Goodman & Co Ltd. boosted its position in Chubb by 1,007,698.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after purchasing an additional 1,007,698 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in Chubb by 41,494.7% in the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after purchasing an additional 810,807 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. JMP Securities reissued a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $301.00.

Chubb Price Performance

Shares of NYSE:CB opened at $296.36 on Monday. The company has a 50 day moving average of $279.26 and a 200 day moving average of $281.41. 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 stock has a market cap of $118.67 billion, a P/E ratio of 13.04, a P/E/G ratio of 3.36 and a beta of 0.66. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings results 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 net margin of 16.63% and a return on equity of 13.75%. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.23%. Chubb’s dividend payout ratio (DPR) is presently 16.02%.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is owned by corporate insiders.

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.