Pictet Asset Management Holding SA Trims Position in Chubb Limited (NYSE:CB)

Pictet Asset Management Holding SA reduced its position in Chubb Limited (NYSE:CB) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 190,578 shares of the financial services provider’s stock after selling 10,763 shares during the period. Pictet Asset Management Holding SA’s holdings in Chubb were worth $52,657,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. grew its position in shares of Chubb by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 260,483 shares of the financial services provider’s stock valued at $71,971,000 after purchasing an additional 1,289 shares during the period. New Age Alpha Advisors LLC boosted its stake in Chubb by 43,904.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 45,325 shares of the financial services provider’s stock worth $12,523,000 after buying an additional 45,222 shares during the last quarter. Norges Bank purchased a new stake in Chubb in the 4th quarter valued at about $1,169,720,000. Blair William & Co. IL increased its stake in shares of Chubb by 7.6% during the 4th quarter. Blair William & Co. IL now owns 58,166 shares of the financial services provider’s stock valued at $16,071,000 after acquiring an additional 4,095 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Chubb during the 4th quarter worth about $55,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CB shares. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Wells Fargo & Company cut 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. Finally, Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $301.00.

Chubb Stock Performance

Chubb stock opened at $296.36 on Friday. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company has a market capitalization of $118.67 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The firm’s fifty day moving average price is $279.26 and its 200 day moving average price is $281.43.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

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

Insider Transactions at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 584,395 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

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.