SeaCrest Wealth Management LLC Reduces Holdings in Chubb Limited (NYSE:CB)

SeaCrest Wealth Management LLC trimmed its stake in Chubb Limited (NYSE:CB) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,550 shares of the financial services provider’s stock after selling 121 shares during the period. SeaCrest Wealth Management LLC’s holdings in Chubb were worth $661,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Chubb in the fourth quarter valued at $29,000. ZRC Wealth Management LLC acquired a new position in Chubb in the fourth quarter valued at $29,000. EdgeRock Capital LLC acquired a new position in Chubb in the fourth quarter valued at $35,000. Tennessee Valley Asset Management Partners acquired a new position in Chubb in the fourth quarter valued at $32,000. Finally, Northwest Financial Advisors acquired a new position in Chubb in the fourth quarter valued at $33,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Juan Luis Ortega sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale 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 the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders sold a total of 47,552 shares of company stock valued at $12,149,985 over the last 90 days. Insiders own 0.86% of the company’s stock.

Chubb Stock Down 0.7 %

Shares of NYSE CB opened at $253.77 on Thursday. Chubb Limited has a 12-month low of $186.52 and a 12-month high of $275.41. The company has a market capitalization of $103.05 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 6.16 and a beta of 0.66. 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 firm’s 50-day moving average is $259.48 and its two-hundred day moving average is $249.28.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CB shares. The Goldman Sachs Group boosted their price target on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. StockNews.com lowered shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI boosted their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $266.70.

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.