WASHINGTON TRUST Co Reduces Stock Position in Chubb Limited (NYSE:CB)

WASHINGTON TRUST Co reduced its holdings in Chubb Limited (NYSE:CB) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,018 shares of the financial services provider’s stock after selling 2,206 shares during the period. WASHINGTON TRUST Co’s holdings in Chubb were worth $12,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Research & Advisory Group Inc. boosted its stake in shares of Chubb by 2.6% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 13,403 shares of the financial services provider’s stock worth $3,029,000 after purchasing an additional 343 shares during the period. Hunter Perkins Capital Management LLC boosted its stake in shares of Chubb by 0.5% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 49,361 shares of the financial services provider’s stock worth $11,184,000 after purchasing an additional 245 shares during the period. Westbourne Investment Advisors Inc. boosted its stake in shares of Chubb by 3.7% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 16,971 shares of the financial services provider’s stock worth $3,835,000 after purchasing an additional 612 shares during the period. Procyon Advisors LLC boosted its stake in shares of Chubb by 16.4% during the 4th quarter. Procyon Advisors LLC now owns 1,891 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 266 shares during the period. Finally, Planned Solutions Inc. purchased a new position in shares of Chubb during the 4th quarter worth about $141,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CB. HSBC assumed coverage on shares of Chubb in a research note on Thursday, December 28th. They set a “buy” rating and a $263.00 price target for the company. JMP Securities lifted their price objective on shares of Chubb from $250.00 to $280.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on shares of Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Citigroup reiterated a “neutral” rating and set a $275.00 price objective (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. Finally, StockNews.com lowered shares of Chubb from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.06.

Chubb Stock Up 0.5 %

Shares of NYSE CB traded up $1.19 during trading hours on Wednesday, hitting $257.27. 525,895 shares of the stock were exchanged, compared to its average volume of 1,778,730. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market cap of $104.39 billion, a PE ratio of 11.74, a PEG ratio of 1.21 and a beta of 0.62. The firm has a fifty day moving average price of $248.70 and a 200-day moving average price of $229.09. Chubb Limited has a 12 month low of $183.71 and a 12 month high of $260.58.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $8.30 EPS for the quarter, topping the consensus estimate of $5.07 by $3.23. The firm had revenue of $13.38 billion during the quarter, compared to analyst estimates of $12.88 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. On average, sell-side analysts expect that Chubb Limited will post 21.16 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.44 annualized dividend and a dividend yield of 1.34%. Chubb’s dividend payout ratio (DPR) is presently 15.76%.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chubb news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Insiders sold a total of 116,043 shares of company stock worth $29,766,694 in the last 90 days. 0.37% of the stock is owned by corporate insiders.

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.