Chubb Limited (NYSE:CB) Holdings Lowered by Mycio Wealth Partners LLC

Mycio Wealth Partners LLC decreased its stake in Chubb Limited (NYSE:CBGet Rating) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 907,437 shares of the financial services provider’s stock after selling 40,924 shares during the quarter. Chubb makes up approximately 61.8% of Mycio Wealth Partners LLC’s investment portfolio, making the stock its largest position. Mycio Wealth Partners LLC’s holdings in Chubb were worth $194,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CB. Norges Bank purchased a new position in Chubb during the fourth quarter worth approximately $581,220,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Chubb during the first quarter worth approximately $335,682,000. Assenagon Asset Management S.A. boosted its position in Chubb by 12,466.7% during the first quarter. Assenagon Asset Management S.A. now owns 471,377 shares of the financial services provider’s stock worth $100,828,000 after purchasing an additional 467,626 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Chubb by 14.5% during the fourth quarter. Deutsche Bank AG now owns 3,072,425 shares of the financial services provider’s stock valued at $593,931,000 after acquiring an additional 389,990 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Chubb during the fourth quarter valued at approximately $57,279,000. Hedge funds and other institutional investors own 88.86% of the company’s stock.

Chubb Trading Up 0.1 %

CB opened at $185.32 on Friday. Chubb Limited has a 52 week low of $171.96 and a 52 week high of $218.99. The business has a fifty day simple moving average of $193.82 and a 200-day simple moving average of $202.28. The firm has a market cap of $77.40 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.18 and a beta of 0.68. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.28.

Chubb (NYSE:CBGet Rating) last released its earnings results on Tuesday, July 26th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.57. Chubb had a return on equity of 10.97% and a net margin of 17.36%. During the same period last year, the firm earned $3.62 earnings per share. On average, equities analysts expect that Chubb Limited will post 15.64 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were issued a $0.83 dividend. The ex-dividend date was Thursday, June 16th. This is a positive change from Chubb’s previous quarterly dividend of $0.80. This represents a $3.32 dividend on an annualized basis and a yield of 1.79%. Chubb’s dividend payout ratio (DPR) is 20.02%.

Chubb announced that its board has approved a stock buyback plan on Thursday, May 19th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on CB shares. Jefferies Financial Group reduced their target price on Chubb from $247.00 to $244.00 and set a “buy” rating for the company in a report on Tuesday, July 12th. Raymond James increased their price target on Chubb from $240.00 to $250.00 in a report on Thursday, April 28th. Citigroup began coverage on Chubb in a report on Monday, May 23rd. They issued a “neutral” rating and a $209.00 price target for the company. Barclays cut their price target on Chubb from $250.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, May 20th. Finally, Morgan Stanley cut their price target on Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.85.

Insider Activity at Chubb

In related news, Director Theodore Shasta sold 812 shares of Chubb stock in a transaction on Friday, May 27th. The stock was sold at an average price of $209.18, for a total value of $169,854.16. Following the completion of the transaction, the director now directly owns 15,488 shares in the company, valued at $3,239,779.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Chubb news, COO John W. Keogh sold 64,565 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $208.39, for a total value of $13,454,700.35. Following the sale, the chief operating officer now directly owns 230,236 shares in the company, valued at $47,978,880.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Theodore Shasta sold 812 shares of the firm’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $209.18, for a total value of $169,854.16. Following the completion of the sale, the director now owns 15,488 shares in the company, valued at $3,239,779.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,891 shares of company stock worth $26,199,246. Company insiders own 0.39% of the company’s stock.

Chubb Company Profile

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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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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