Chubb Limited $CB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Chubb Limited (NYSE:CB) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,962,700 shares of the financial services provider’s stock after selling 54,591 shares during the period. Bank of New York Mellon Corp’s holdings in Chubb were worth $612,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Westpac Banking Corp lifted its stake in shares of Chubb by 48.9% in the 4th quarter. Westpac Banking Corp now owns 7,855 shares of the financial services provider’s stock valued at $2,452,000 after purchasing an additional 2,579 shares during the last quarter. Kesler Norman & Wride LLC raised its holdings in shares of Chubb by 1.9% in the 4th quarter. Kesler Norman & Wride LLC now owns 26,411 shares of the financial services provider’s stock valued at $8,243,000 after buying an additional 488 shares during the period. Natixis Advisors LLC raised its holdings in shares of Chubb by 1.1% in the 4th quarter. Natixis Advisors LLC now owns 758,580 shares of the financial services provider’s stock valued at $236,767,000 after buying an additional 8,041 shares during the period. Camden National Bank raised its holdings in shares of Chubb by 0.3% in the 4th quarter. Camden National Bank now owns 44,583 shares of the financial services provider’s stock valued at $13,915,000 after buying an additional 128 shares during the period. Finally, Beto Financial Group LLC purchased a new stake in shares of Chubb in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CB shares. JPMorgan Chase & Co. boosted their price objective on Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Raymond James Financial boosted their price objective on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a report on Monday, February 9th. Jefferies Financial Group cut their price objective on Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Finally, Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $349.90.

Insider Activity

In other Chubb news, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of NYSE CB opened at $313.03 on Thursday. The stock’s 50-day moving average is $324.83 and its two-hundred day moving average is $317.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The company has a market cap of $121.41 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion for the quarter. Analysts forecast that Chubb Limited will post 26.8 EPS for the current fiscal year.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.