Baird Financial Group Inc. Reduces Stock Holdings in Chubb Limited $CB

Baird Financial Group Inc. cut its holdings in Chubb Limited (NYSE:CB) by 4.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 195,111 shares of the financial services provider’s stock after selling 8,520 shares during the quarter. Baird Financial Group Inc.’s holdings in Chubb were worth $56,528,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CB. 1248 Management LLC purchased a new position in shares of Chubb in the 1st quarter valued at approximately $31,000. WPG Advisers LLC acquired a new position in Chubb during the 1st quarter valued at approximately $33,000. VSM Wealth Advisory LLC purchased a new position in shares of Chubb in the second quarter worth $32,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Chubb by 391.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $36,000 after buying an additional 94 shares during the period. Finally, Maseco LLP acquired a new stake in shares of Chubb during the second quarter worth $35,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 16,375 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the sale, the insider directly owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. This trade represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,333 shares of company stock valued at $16,629,873 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI upped their target price on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Citigroup boosted their price target on Chubb from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $309.00 target price on shares of Chubb in a report on Monday, October 27th. Finally, Wolfe Research raised their price target on shares of Chubb from $320.00 to $336.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $308.32.

Chubb Trading Down 0.2%

Chubb stock opened at $294.45 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock’s 50 day simple moving average is $285.99 and its two-hundred day simple moving average is $281.77. The firm has a market cap of $115.88 billion, a PE ratio of 12.29, a P/E/G ratio of 3.37 and a beta of 0.51.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $16.15 billion during the quarter, compared to analyst estimates of $12.95 billion. During the same period in the previous year, the firm earned $5.72 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. 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, January 2nd. Stockholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s dividend payout ratio is presently 16.19%.

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.