Spire Wealth Management Decreases Holdings in Chubb Limited (NYSE:CB)

Spire Wealth Management reduced its holdings in shares of Chubb Limited (NYSE:CB) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,507 shares of the financial services provider’s stock after selling 90 shares during the quarter. Spire Wealth Management’s holdings in Chubb were worth $595,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CB. TCI Wealth Advisors Inc. purchased a new stake in Chubb in the fourth quarter valued at $231,000. Avidian Wealth Solutions LLC purchased a new stake in shares of Chubb in the 4th quarter valued at about $205,000. Forte Capital LLC ADV acquired a new stake in shares of Chubb in the 4th quarter valued at about $223,000. Vestmark Advisory Solutions Inc. purchased a new position in Chubb during the 4th quarter worth approximately $362,000. Finally, Todd Asset Management LLC acquired a new position in Chubb during the fourth quarter worth approximately $31,290,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Roth Mkm restated a “buy” rating and issued a $280.00 price target on shares of Chubb in a research report on Wednesday, April 24th. Citigroup reaffirmed a “neutral” rating and set a $275.00 price target (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. Keefe, Bruyette & Woods dropped their price objective on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI boosted their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $266.74.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 34,707 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 33,150 shares of Chubb stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the completion of the transaction, the executive vice president now owns 50,486 shares in the company, valued at approximately $12,879,483.46. The disclosure for this sale can be found here. In the last three months, insiders sold 143,570 shares of company stock valued at $36,752,777. Company insiders own 0.86% of the company’s stock.

Chubb Trading Up 1.0 %

Shares of Chubb stock opened at $254.04 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day moving average price of $251.81 and a 200 day moving average price of $237.86. The company has a market capitalization of $103.16 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.17 and a beta of 0.63. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $260.58.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.41 EPS. Sell-side analysts anticipate that Chubb Limited will post 21.18 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s payout ratio is 15.27%.

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.