Bank of New York Mellon Corp Decreases Stock Holdings in Chubb Limited $CB

Bank of New York Mellon Corp lowered its position in Chubb Limited (NYSE:CB) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,017,291 shares of the financial services provider’s stock after selling 23,278 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chubb were worth $569,380,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Westbourne Investment Advisors Inc. increased its position in shares of Chubb by 12.3% during the third quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Assetmark Inc. boosted its position in shares of Chubb by 14.1% in the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock worth $20,655,000 after purchasing an additional 8,828 shares in the last quarter. Trifecta Capital Advisors LLC grew its stake in Chubb by 764.7% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock worth $43,000 after buying an additional 130 shares during the last quarter. Sivia Capital Partners LLC increased its position in Chubb by 166.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 2,315 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Chubb by 28.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 57,794 shares of the financial services provider’s stock valued at $16,750,000 after buying an additional 12,784 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $303.70 on Thursday. The company has a 50 day simple moving average of $304.38 and a two-hundred day simple moving average of $287.09. The stock has a market cap of $119.52 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.94 and a beta of 0.51. 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 $263.14 and a 12 month high of $316.94.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio is presently 16.19%.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction dated 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 owned 74,225 shares in the company, valued at $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares in the company, valued at approximately $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 33,635 shares of company stock valued at $9,970,735. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CB. Cantor Fitzgerald boosted their price target on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. BMO Capital Markets reissued a “market perform” rating and set a $283.00 target price on shares of Chubb in a research report on Thursday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.81.

Chubb Company Profile

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.