Corient Private Wealth LLC Sells 6,942 Shares of Chubb Limited (NYSE:CB)

Corient Private Wealth LLC cut its holdings in Chubb Limited (NYSE:CB) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 603,060 shares of the financial services provider’s stock after selling 6,942 shares during the quarter. Corient Private Wealth LLC’s holdings in Chubb were worth $166,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CB. Impax Asset Management Group plc bought a new position in Chubb in the third quarter valued at approximately $26,336,000. Harbour Investments Inc. boosted its stake in Chubb by 3.3% in the third quarter. Harbour Investments Inc. now owns 2,083 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 66 shares during the last quarter. Kovack Advisors Inc. bought a new position in Chubb in the third quarter valued at approximately $234,000. Zions Bancorporation N.A. boosted its stake in Chubb by 10.3% in the third quarter. Zions Bancorporation N.A. now owns 2,417 shares of the financial services provider’s stock valued at $697,000 after acquiring an additional 225 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in Chubb in the third quarter valued at approximately $259,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CB shares. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a report on Wednesday, March 5th. Wells Fargo & Company cut their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Barclays cut their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $301.00.

Insider Activity

In related news, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the transaction, the chief executive officer now directly owns 584,395 shares in the company, valued at $170,321,922.75. This represents a 4.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $294.46 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $117.91 billion, a P/E ratio of 12.96, 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. The firm has a 50-day moving average price of $273.60 and a two-hundred day moving average price of $280.85.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s payout ratio is presently 16.02%.

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.