Confluence Investment Management LLC Cuts Stock Holdings in Chubb Limited $CB

Confluence Investment Management LLC decreased its position in shares of Chubb Limited (NYSE:CB) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 460,772 shares of the financial services provider’s stock after selling 21,271 shares during the quarter. Chubb comprises 2.5% of Confluence Investment Management LLC’s holdings, making the stock its 3rd largest holding. Confluence Investment Management LLC’s holdings in Chubb were worth $157,003,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc increased its stake in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. State Street Corp boosted its position in Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. GQG Partners LLC grew its position in shares of Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after acquiring an additional 1,647,729 shares during the period. Finally, Bank of America Corp DE grew its holdings in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.

Chubb Stock Down 0.7%

CB stock opened at $348.08 on Tuesday. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The firm has a market capitalization of $134.29 billion, a PE ratio of 12.31, a PEG ratio of 1.74 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $338.73 and a two-hundred day simple moving average of $329.23.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 earnings per share. Chubb’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts predict that Chubb Limited will post 27.4 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is 14.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CB shares. Keefe, Bruyette & Woods lifted their price objective on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Atlantic Securities set a $301.00 target price on shares of Chubb in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Finally, BMO Capital Markets upped their price target on shares of Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $360.09.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.