Salem Investment Counselors Inc. Sells 100 Shares of Chubb Limited (NYSE:CB)

Salem Investment Counselors Inc. trimmed its position in shares of Chubb Limited (NYSE:CB) by 12.9% in the fourth quarter, Holdings Channel reports. The fund owned 673 shares of the financial services provider’s stock after selling 100 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Chubb were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CB. Wealth Enhancement Advisory Services LLC raised its position in shares of Chubb by 57.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider’s stock valued at $102,840,000 after buying an additional 130,629 shares during the last quarter. Czech National Bank raised its position in shares of Chubb by 6.2% during the fourth quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock valued at $22,458,000 after buying an additional 4,757 shares during the last quarter. Barclays PLC raised its position in shares of Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after buying an additional 388,746 shares during the last quarter. Moloney Securities Asset Management LLC raised its position in Chubb by 97.9% in the third quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Savvy Advisors Inc. acquired a new position in Chubb in the third quarter worth about $721,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research report on Tuesday. JMP Securities increased their price target on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Piper Sandler increased their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Evercore ISI increased their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays dropped their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $288.17.

Chubb Price Performance

CB opened at $265.54 on Wednesday. Chubb Limited has a one year low of $226.06 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company’s 50 day simple moving average is $278.46 and its 200-day simple moving average is $278.16. The stock has a market capitalization of $107.04 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 6.43 and a beta of 0.67.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the prior year, the firm earned $4.95 earnings per share. Chubb’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Chubb Limited will post 21.82 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.37%. Chubb’s payout ratio is presently 14.91%.

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.