PNC Financial Services Group Inc. Sells 14,175 Shares of Chubb Limited (NYSE:CB)

PNC Financial Services Group Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 911,447 shares of the financial services provider's stock after selling 14,175 shares during the period. PNC Financial Services Group Inc. owned about 0.23% of Chubb worth $251,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CB. Van ECK Associates Corp raised its stake in shares of Chubb by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 13,010 shares of the financial services provider's stock worth $3,838,000 after purchasing an additional 359 shares during the period. Impax Asset Management Group plc bought a new stake in Chubb in the 3rd quarter valued at about $26,336,000. Financial Strategies Group Inc. bought a new stake in Chubb in the 3rd quarter valued at about $6,693,000. Comprehensive Financial Consultants Institutional Inc. raised its stake in Chubb by 1.2% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 16,174 shares of the financial services provider's stock valued at $4,664,000 after acquiring an additional 191 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Chubb in the 3rd quarter valued at about $82,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CB shares. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price objective on the stock in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on Chubb from $328.00 to $329.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Royal Bank of Canada restated an "outperform" rating and issued a $320.00 price objective on shares of Chubb in a research note on Thursday, January 30th. Barclays lowered their price objective on Chubb from $349.00 to $324.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Chubb from $296.00 to $300.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $299.27.

Remove Ads

Chubb Price Performance

Shares of NYSE CB traded up $0.23 during midday trading on Friday, hitting $286.52. 1,259,899 shares of the company's stock were exchanged, compared to its average volume of 1,700,705. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $114.73 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 3.36 and a beta of 0.66. The business's fifty day moving average price is $272.01 and its two-hundred day moving average price is $280.30.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, March 14th. Chubb's payout ratio is 16.02%.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the sale, the executive vice president now owns 77,703 shares of the company's stock, valued at $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Chubb 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.