Tdam USA Inc. lessened its position in Chubb Ltd (NYSE:CB) by 51.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,859 shares of the financial services provider’s stock after selling 24,530 shares during the period. Tdam USA Inc.’s holdings in Chubb were worth $3,367,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC raised its stake in Chubb by 100.6% in the 1st quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock worth $1,966,632,000 after purchasing an additional 7,040,520 shares in the last quarter. FMR LLC raised its stake in Chubb by 0.6% in the 1st quarter. FMR LLC now owns 11,889,654 shares of the financial services provider’s stock worth $1,665,503,000 after purchasing an additional 74,295 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Chubb by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock worth $869,256,000 after purchasing an additional 203,528 shares in the last quarter. Geode Capital Management LLC raised its stake in Chubb by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock worth $726,121,000 after purchasing an additional 383,344 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Chubb by 1.1% in the 1st quarter. Northern Trust Corp now owns 5,376,229 shares of the financial services provider’s stock worth $753,101,000 after purchasing an additional 56,907 shares in the last quarter. 89.39% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Chubb from $153.00 to $154.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. UBS Group boosted their target price on shares of Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Zacks Investment Research upgraded shares of Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Raymond James restated a “strong-buy” rating and issued a $160.00 target price (up from $150.00) on shares of Chubb in a research report on Friday, July 5th. Finally, Wells Fargo & Co boosted their target price on shares of Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Chubb has a consensus rating of “Hold” and a consensus price target of $150.55.
Shares of NYSE:CB traded down $5.71 during midday trading on Wednesday, hitting $153.12. The stock had a trading volume of 69,844 shares, compared to its average volume of 1,522,282. The stock has a 50-day moving average price of $151.00. The company has a market capitalization of $72.75 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.54 and a beta of 0.72. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.25. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $160.23.
Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.58 by $0.02. The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 EPS. As a group, equities research analysts expect that Chubb Ltd will post 10.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, September 19th. Chubb’s dividend payout ratio (DPR) is presently 31.78%.
In related news, CEO Evan G. Greenberg sold 215,648 shares of Chubb stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the sale, the chief executive officer now directly owns 1,002,730 shares of the company’s stock, valued at approximately $149,246,333.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 10,400 shares of Chubb stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $146.37, for a total transaction of $1,522,248.00. Following the sale, the insider now directly owns 174,037 shares in the company, valued at $25,473,795.69. The disclosure for this sale can be found here. Insiders have sold a total of 349,821 shares of company stock worth $52,059,287 over the last ninety days. 0.47% of the stock is currently owned by insiders.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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