Glenmede Trust Co. NA Decreases Position in Chubb Limited (NYSE:CB)

Glenmede Trust Co. NA lowered its holdings in Chubb Limited (NYSE:CB) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 442,669 shares of the financial services provider’s stock after selling 2,811 shares during the period. Glenmede Trust Co. NA owned approximately 0.11% of Chubb worth $127,661,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of Chubb during the first quarter valued at about $25,000. Beacon Capital Management LLC grew its position in Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of Chubb during the second quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in Chubb during the second quarter valued at about $28,000. Finally, Kozak & Associates Inc. purchased a new position in shares of Chubb in the 3rd quarter worth about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

CB stock opened at $288.51 on Wednesday. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05. The firm has a 50 day moving average price of $287.32 and a 200-day moving average price of $275.05. The firm has a market capitalization of $116.30 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 6.68 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. Chubb’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.95 earnings per share. Equities research analysts forecast that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Analyst Upgrades and Downgrades

CB has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler upped their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group lifted 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 analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $287.37.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,715 shares of company stock valued at $23,803,540. Insiders own 0.86% of the company’s stock.

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.