Lake Street Private Wealth LLC Sells 355 Shares of Chubb Limited (NYSE:CB)

Lake Street Private Wealth LLC lessened its stake in Chubb Limited (NYSE:CB) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,613 shares of the financial services provider’s stock after selling 355 shares during the period. Lake Street Private Wealth LLC’s holdings in Chubb were worth $936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ZRC Wealth Management LLC bought a new stake in Chubb during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Chubb during the fourth quarter valued at about $29,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Chubb during the fourth quarter worth about $32,000. Northwest Financial Advisors purchased a new position in Chubb during the 4th quarter valued at about $33,000. Finally, Naples Money Management LLC bought a new position in Chubb during the 4th quarter valued at approximately $34,000. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the transaction, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares in the company, valued at $2,036,085.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Atieh sold 716 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the transaction, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,552 shares of company stock worth $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

NYSE CB opened at $253.77 on Thursday. The stock has a market capitalization of $103.05 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 6.17 and a beta of 0.66. Chubb Limited has a 1-year low of $186.52 and a 1-year high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The business’s fifty day moving average price is $259.48 and its 200-day moving average price is $249.28.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. Chubb’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.41 earnings per share. On average, equities analysts predict that Chubb Limited will post 21.03 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a yield of 1.43%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analyst Weigh In

CB has been the topic of several research analyst reports. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Evercore ISI boosted their price objective on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Citigroup restated a “neutral” rating and issued a $275.00 price objective (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. HSBC reaffirmed a “hold” rating and set a $270.00 target price (down previously from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $285.00 price target on shares of Chubb in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $266.70.

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.