Bartlett & CO. Wealth Management LLC Has $66.82 Million Stake in Chubb Limited (NYSE:CB)

Bartlett & CO. Wealth Management LLC cut its stake in shares of Chubb Limited (NYSE:CB) by 0.1% in the third quarter, Holdings Channel reports. The fund owned 231,081 shares of the financial services provider’s stock after selling 225 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Chubb were worth $66,824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its stake in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Capital Research Global Investors boosted its stake in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its holdings in Chubb by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after acquiring an additional 104,986 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after acquiring an additional 457,881 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the topic of a number of recent research reports. Roth Mkm increased their price objective on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays began coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Morgan Stanley lowered their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $300.00 price objective on shares of Chubb in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $282.37.

Insider Activity

In related news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael G. Atieh sold 261 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

NYSE:CB opened at $301.66 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $284.79 and a 200 day simple moving average of $267.91. Chubb Limited has a 1-year low of $205.64 and a 1-year high of $302.05. The stock has a market cap of $122.49 billion, a P/E ratio of 13.39, a PEG ratio of 5.87 and a beta of 0.66.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.92 earnings per share. Research analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.21%. Chubb’s payout ratio is 16.16%.

About Chubb

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.