Northwest Bancshares Inc. Reduces Holdings in Chubb Limited (NYSE:CB)

by · The Cerbat Gem

Northwest Bancshares Inc. lowered its holdings in Chubb Limited (NYSE:CB – Free Report) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,353 shares of the financial services provider’s stock after selling 445 shares during the quarter. Northwest Bancshares Inc.’s holdings in Chubb were worth $5,278,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in shares of Chubb in the fourth quarter valued at about $25,000. Guardian Wealth Advisors LLC purchased a new position in Chubb in the 1st quarter valued at about $25,000. BOK Financial Private Wealth Inc. acquired a new stake in Chubb in the 3rd quarter worth about $28,000. IMA Wealth Inc. increased its stake in Chubb by 275.7% during the 2nd quarter. IMA Wealth Inc. now owns 139 shares of the financial services provider’s stock worth $27,000 after buying an additional 102 shares in the last quarter. Finally, Mcmillion Capital Management Inc. acquired a new position in shares of Chubb during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, insider John J. Lupica sold 17,810 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $218.76, for a total value of $3,896,115.60. Following the transaction, the insider now directly owns 136,239 shares of the company’s stock, valued at approximately $29,803,643.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John J. Lupica sold 17,810 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $218.76, for a total transaction of $3,896,115.60. Following the completion of the sale, the insider now owns 136,239 shares of the company’s stock, valued at approximately $29,803,643.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Juan Luis Ortega sold 1,508 shares of Chubb stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $218.63, for a total transaction of $329,694.04. Following the transaction, the executive vice president now directly owns 49,940 shares in the company, valued at $10,918,382.20. The disclosure for this sale can be found here. In the last three months, insiders sold 37,128 shares of company stock worth $8,121,925. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CB. UBS Group raised their price objective on Chubb from $235.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group decreased their price target on Chubb from $217.00 to $215.00 in a research note on Friday, October 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Chubb in a research note on Wednesday, October 4th. They issued a “buy” rating and a $269.00 price target on the stock. Citigroup increased their price objective on shares of Chubb from $235.00 to $238.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, TD Cowen started coverage on Chubb in a research note on Wednesday. They set a “market perform” rating and a $254.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $242.53.

Get Our Latest Research Report on CB

Chubb Stock Performance

Shares of CB stock traded down $0.48 during midday trading on Wednesday, hitting $224.83. The company had a trading volume of 259,036 shares, compared to its average volume of 1,470,616. The stock has a market cap of $91.73 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.10 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50 day simple moving average is $223.48 and its 200 day simple moving average is $210.49. Chubb Limited has a 52-week low of $183.40 and a 52-week high of $231.37.

Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $4.95 EPS for the quarter, topping the consensus estimate of $4.21 by $0.74. The business had revenue of $14.09 billion for the quarter, compared to analyst estimates of $13.16 billion. Chubb had a return on equity of 14.26% and a net margin of 14.58%. Research analysts anticipate that Chubb Limited will post 19.19 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 15th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Thursday, December 14th. Chubb’s payout ratio is currently 20.32%.

About Chubb

(Free Report)

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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