Plimoth Trust Co. LLC Sells 143 Shares of Chubb Limited (NYSE:CB)

Plimoth Trust Co. LLC lowered its stake in Chubb Limited (NYSE:CB) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,516 shares of the financial services provider’s stock after selling 143 shares during the quarter. Chubb makes up approximately 1.1% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 26th largest position. Plimoth Trust Co. LLC’s holdings in Chubb were worth $4,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. ZRC Wealth Management LLC acquired a new position in shares of Chubb during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Chubb during the 4th quarter worth approximately $29,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Chubb during the 4th quarter worth approximately $32,000. Northwest Financial Advisors bought a new stake in Chubb in the 4th quarter valued at $33,000. Finally, Naples Money Management LLC acquired a new stake in Chubb during the 4th quarter valued at $34,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CB. HSBC reiterated a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. Roth Mkm restated a “buy” rating and set a $280.00 price objective on shares of Chubb in a research report on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Chubb in a research report on Friday, June 28th. Piper Sandler reissued an “overweight” rating and set a $282.00 price target on shares of Chubb in a report on Monday, April 1st. Finally, Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $244.00 to $266.00 in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $266.70.

Chubb Price Performance

Shares of CB stock opened at $255.56 on Wednesday. Chubb Limited has a twelve month low of $186.52 and a twelve month high of $275.41. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $259.36 and a 200 day simple moving average of $249.03. The company has a market cap of $103.77 billion, a P/E ratio of 11.34, a P/E/G ratio of 6.16 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.41 EPS. On average, sell-side analysts forecast that Chubb Limited will post 21.03 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.42%. Chubb’s dividend payout ratio (DPR) is 16.16%.

Insider Buying and Selling

In other news, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the sale, the director now directly owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at $11,648,059.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael G. Atieh sold 716 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the sale, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock worth $12,149,985 in the last 90 days. Insiders own 0.86% of the company’s stock.

About Chubb

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.