Atlantic Union Bankshares Corp Reduces Holdings in Chubb Limited (NYSE:CB)

Atlantic Union Bankshares Corp lowered its stake in shares of Chubb Limited (NYSE:CB) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,150 shares of the financial services provider’s stock after selling 55 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Chubb were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Chubb by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock valued at $3,855,996,000 after buying an additional 138,142 shares in the last quarter. Capital World Investors boosted its position in shares of Chubb by 0.4% in the 4th quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after purchasing an additional 43,845 shares in the last quarter. Norges Bank purchased a new stake in shares of Chubb in the 4th quarter worth approximately $957,756,000. Raymond James & Associates increased its position in Chubb by 2.6% during the 4th quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock valued at $701,301,000 after buying an additional 77,453 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its position in Chubb by 0.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock valued at $609,880,000 after buying an additional 24,323 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CB. StockNews.com cut Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $285.00 price objective on shares of Chubb in a research note on Friday. Morgan Stanley upped their target price on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI raised their price target 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. Finally, HSBC reaffirmed a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $266.70.

Insider Transactions at Chubb

In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO John W. Keogh sold 34,707 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock valued at $12,149,985 over the last quarter. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Performance

NYSE CB traded down $6.96 during trading hours on Friday, hitting $255.07. 2,793,919 shares of the company’s stock traded hands, compared to its average volume of 1,687,672. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $275.41. The firm has a market capitalization of $103.57 billion, a P/E ratio of 11.32, a P/E/G ratio of 6.24 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $259.30 and its two-hundred day moving average price is $248.48.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.41 EPS. Equities research analysts predict that Chubb Limited will post 21.15 EPS for the current year.

Chubb Increases Dividend

The business 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. This is a boost from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. Chubb’s dividend payout ratio is presently 16.16%.

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.