Wesbanco Bank Inc. Reduces Holdings in Chubb Limited (NYSE:CB)

Wesbanco Bank Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,817 shares of the financial services provider’s stock after selling 221 shares during the period. Wesbanco Bank Inc.’s holdings in Chubb were worth $4,923,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CB. Ironwood Investment Counsel LLC grew its stake in shares of Chubb by 2.1% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 1,721 shares of the financial services provider’s stock valued at $496,000 after buying an additional 35 shares during the period. Continuum Advisory LLC lifted its holdings in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after buying an additional 35 shares in the last quarter. First Financial Bank Trust Division lifted its holdings in Chubb by 3.7% in the 4th quarter. First Financial Bank Trust Division now owns 1,026 shares of the financial services provider’s stock worth $283,000 after buying an additional 37 shares in the last quarter. LVW Advisors LLC lifted its holdings in Chubb by 0.3% in the 3rd quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 40 shares in the last quarter. Finally, Wealth Effects LLC lifted its holdings in Chubb by 3.0% in the 3rd quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock worth $395,000 after buying an additional 40 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CB. Bank of America upped their target price on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $294.00 to $296.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Piper Sandler upped their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Morgan Stanley upped their target price on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $288.17.

Chubb Price Performance

NYSE CB opened at $268.21 on Thursday. The company has a 50-day moving average price of $277.39 and a two-hundred day moving average price of $278.72. The stock has a market cap of $108.11 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 7.29 and a beta of 0.67. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.95 EPS. Analysts forecast that Chubb Limited will post 22 EPS for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, December 13th. Chubb’s dividend payout ratio is currently 14.91%.

Chubb Company 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.