Phillips Wealth Planners LLC Trims Holdings in Chubb Limited (NYSE:CB)

Phillips Wealth Planners LLC reduced its stake in Chubb Limited (NYSE:CB) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,382 shares of the financial services provider’s stock after selling 64 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Chubb were worth $405,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Weatherly Asset Management L. P. purchased a new stake in shares of Chubb in the third quarter valued at about $234,000. Gladstone Institutional Advisory LLC raised its position in Chubb by 336.9% in the third quarter. Gladstone Institutional Advisory LLC now owns 10,805 shares of the financial services provider’s stock valued at $3,116,000 after purchasing an additional 8,332 shares during the period. Nadler Financial Group Inc. acquired a new position in Chubb during the 3rd quarter worth about $202,000. New York State Common Retirement Fund lifted its position in shares of Chubb by 4.7% during the third quarter. New York State Common Retirement Fund now owns 664,657 shares of the financial services provider’s stock worth $191,680,000 after purchasing an additional 29,811 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Chubb by 2.0% in the third quarter. Principal Securities Inc. now owns 11,274 shares of the financial services provider’s stock valued at $3,251,000 after purchasing an additional 222 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 1.8 %

Shares of NYSE CB opened at $277.41 on Friday. The firm’s 50-day moving average is $288.23 and its two-hundred day moving average is $270.64. The company has a market capitalization of $112.11 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. Chubb Limited has a 12-month low of $215.54 and a 12-month high of $302.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.31.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same quarter last year, the company earned $4.95 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is 14.91%.

Insider Buying and Selling

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays initiated coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target for the company. Wells Fargo & Company decreased their price objective on Chubb from $269.00 to $266.00 and set an “equal weight” rating for the company in a research note on Thursday. JMP Securities raised their target price on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday. Bank of America raised their price objective on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average target price of $287.26.

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.