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

Wesbanco Bank Inc. lessened its holdings in Chubb Limited (NYSE:CB) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,817 shares of the financial services provider’s stock after selling 221 shares during the quarter. Wesbanco Bank Inc.’s holdings in Chubb were worth $4,923,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC increased its holdings in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after buying an additional 35 shares during the last quarter. Kozak & Associates Inc. purchased a new position in Chubb in the third quarter valued at $29,000. Gordian Capital Singapore Pte Ltd purchased a new position in Chubb in the third quarter valued at $29,000. Raelipskie Partnership purchased a new position in Chubb in the third quarter valued at $29,000. Finally, Truvestments Capital LLC purchased a new position in Chubb in the third quarter valued at $30,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $268.21 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $108.11 billion, a P/E ratio of 10.98, a PEG 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 50-day moving average price of $277.39 and a 200 day moving average price of $278.72.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same period last year, the firm earned $4.95 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that Chubb Limited will post 22 earnings per share 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 given a dividend of $0.91 per share. The ex-dividend date was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.36%. Chubb’s payout ratio is 14.91%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CB shares. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Piper Sandler raised their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Morgan Stanley raised their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price objective on Chubb from $320.00 to $328.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and an average target price of $288.17.

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.