South Texas Money Management Ltd. Cuts Stake in Chubb Ltd (CB)

South Texas Money Management Ltd. reduced its position in Chubb Ltd (NYSE:CB) by 13.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,603 shares of the financial services provider’s stock after selling 396 shares during the quarter. South Texas Money Management Ltd.’s holdings in Chubb were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Chubb by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,737,036 shares of the financial services provider’s stock valued at $900,339,000 after acquiring an additional 63,629 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Chubb in the 3rd quarter valued at about $219,000. Man Group plc lifted its stake in shares of Chubb by 172.3% in the 3rd quarter. Man Group plc now owns 72,656 shares of the financial services provider’s stock valued at $9,709,000 after acquiring an additional 45,975 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Chubb by 24.3% in the 3rd quarter. Mackenzie Financial Corp now owns 5,177 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Chubb by 9.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,905 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

In other news, insider John J. Lupica sold 17,879 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 192,265 shares of the company’s stock, valued at approximately $25,946,161.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Bennett Medini sold 2,437 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 95,101 shares of the company’s stock, valued at approximately $12,737,827.94. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on the company. Morgan Stanley lowered Chubb from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Zacks Investment Research lowered Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Sandler O’Neill lowered Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Compass Point assumed coverage on Chubb in a research report on Tuesday, January 15th. They set a “buy” rating and a $165.00 price target for the company. Finally, Credit Suisse Group lowered Chubb from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $141.00 to $131.00 in a research report on Wednesday, February 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $151.33.

Shares of NYSE:CB opened at $140.21 on Wednesday. Chubb Ltd has a 52-week low of $119.54 and a 52-week high of $141.59. The company has a market capitalization of $64.25 billion, a PE ratio of 14.85, a PEG ratio of 1.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, February 5th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.80 billion. During the same quarter in the prior year, the company earned $3.17 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Chubb Ltd will post 10.61 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, March 21st. Chubb’s dividend payout ratio is currently 30.93%.

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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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