Plimoth Trust Co. LLC Trims Stake in Chubb Ltd (CB)

Plimoth Trust Co. LLC lowered its holdings in shares of Chubb Ltd (NYSE:CB) by 34.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,626 shares of the financial services provider’s stock after selling 1,872 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Chubb were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Claybrook Capital LLC bought a new position in Chubb in the 4th quarter worth approximately $25,000. Sageworth Trust Co bought a new position in shares of Chubb during the 1st quarter valued at approximately $29,000. Gradient Investments LLC boosted its position in shares of Chubb by 260.0% during the 4th quarter. Gradient Investments LLC now owns 216 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 156 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Chubb by 114.7% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 219 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 117 shares during the last quarter. Finally, Executive Wealth Management LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $29,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

NYSE:CB traded up $0.87 during midday trading on Friday, hitting $138.66. 1,302,187 shares of the company traded hands, compared to its average volume of 1,566,086. Chubb Ltd has a 12-month low of $119.54 and a 12-month high of $141.59. The firm has a market capitalization of $63.54 billion, a PE ratio of 14.69, a PEG ratio of 1.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, February 5th. The financial services provider reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.09. Chubb had a return on equity of 8.66% and a net margin of 11.72%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same quarter in the prior year, the firm posted $3.17 EPS. Chubb’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that Chubb Ltd will post 10.61 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.92 annualized dividend and a yield of 2.11%. Chubb’s payout ratio is presently 30.93%.

In other Chubb news, insider Paul Bennett Medini sold 2,437 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $133.94, for a total value of $326,411.78. Following the sale, the insider now owns 95,101 shares in the company, valued at $12,737,827.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John J. Lupica sold 17,879 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $134.95, for a total value of $2,412,771.05. Following the completion of the sale, the insider now owns 192,265 shares in the company, valued at approximately $25,946,161.75. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of research firms have recently commented on CB. Morgan Stanley downgraded Chubb from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Zacks Investment Research downgraded Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Sandler O’Neill downgraded Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Credit Suisse Group downgraded Chubb from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $141.00 to $131.00 in a research report on Wednesday, February 27th. Finally, Raymond James lowered their target price on Chubb from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Chubb has a consensus rating of “Hold” and a consensus target price of $151.33.

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Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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