Chubb Limited (NYSE:CB) Stock Position Reduced by Somerset Trust Co

Somerset Trust Co decreased its stake in Chubb Limited (NYSE:CB) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 14,095 shares of the financial services provider’s stock after selling 149 shares during the quarter. Chubb makes up approximately 1.5% of Somerset Trust Co’s holdings, making the stock its 25th largest position. Somerset Trust Co’s holdings in Chubb were worth $4,065,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wedmont Private Capital raised its stake in shares of Chubb by 2.7% during the 3rd quarter. Wedmont Private Capital now owns 5,258 shares of the financial services provider’s stock worth $1,457,000 after purchasing an additional 139 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Chubb by 21.9% in the third quarter. Hexagon Capital Partners LLC now owns 485 shares of the financial services provider’s stock worth $140,000 after buying an additional 87 shares during the last quarter. CWM LLC raised its position in Chubb by 14.5% during the third quarter. CWM LLC now owns 15,375 shares of the financial services provider’s stock valued at $4,434,000 after acquiring an additional 1,950 shares in the last quarter. Daymark Wealth Partners LLC raised its position in Chubb by 1.8% during the third quarter. Daymark Wealth Partners LLC now owns 25,056 shares of the financial services provider’s stock valued at $7,226,000 after acquiring an additional 455 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. lifted its stake in Chubb by 7.1% in the third quarter. Tilia Fiduciary Partners Inc. now owns 1,904 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Royal Bank of Canada raised their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America cut Chubb from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $264.00 to $275.00 in a research report on Friday, October 4th. Finally, Jefferies Financial Group lifted their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $281.00.

Chubb Stock Up 1.0 %

NYSE CB opened at $282.83 on Thursday. Chubb Limited has a twelve month low of $205.64 and a twelve month high of $294.18. The stock has a market cap of $114.85 billion, a PE ratio of 12.55, a PEG ratio of 5.74 and a beta of 0.66. The firm has a 50-day simple moving average of $281.56 and a 200 day simple moving average of $266.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $4.92 EPS. On average, research analysts forecast that Chubb Limited will post 21.21 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.29%. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock valued at $24,874,208 in the last 90 days. 0.86% of the stock is currently owned by company 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.