Sei Investments Co. decreased its position in shares of Chubb Ltd (NYSE:CB) by 23.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,893 shares of the financial services provider’s stock after selling 62,254 shares during the quarter. Sei Investments Co.’s holdings in Chubb were worth $26,534,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Chubb by 1.1% during the 1st quarter. BlackRock Inc. now owns 30,545,411 shares of the financial services provider’s stock worth $4,177,696,000 after purchasing an additional 339,028 shares during the last quarter. WCM Investment Management CA raised its position in Chubb by 94.4% during the 1st quarter. WCM Investment Management CA now owns 23,004,754 shares of the financial services provider’s stock worth $3,146,362,000 after purchasing an additional 11,169,592 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Chubb by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,848,022 shares of the financial services provider’s stock worth $1,758,976,000 after purchasing an additional 488,028 shares during the last quarter. Boston Partners raised its position in Chubb by 6.8% during the 1st quarter. Boston Partners now owns 5,415,315 shares of the financial services provider’s stock worth $740,652,000 after purchasing an additional 345,607 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in Chubb by 3.6% during the 1st quarter. Neuberger Berman Group LLC now owns 2,635,209 shares of the financial services provider’s stock worth $360,425,000 after purchasing an additional 90,644 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors.
In related news, Director Michael G. Atieh sold 920 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $130.86, for a total value of $120,391.20. Following the completion of the sale, the director now directly owns 40,561 shares of the company’s stock, valued at approximately $5,307,812.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders purchased 135 shares of company stock valued at $19,612 and sold 1,048 shares valued at $138,338. Insiders own 0.44% of the company’s stock.
Several research analysts recently issued reports on CB shares. Wells Fargo & Co set a $169.00 target price on Chubb and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. Citigroup lifted their price objective on Chubb from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, May 1st. ValuEngine lowered Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. Finally, Goldman Sachs Group lowered Chubb from a “buy” rating to a “neutral” rating and set a $167.00 price objective for the company. in a research report on Monday, June 18th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $161.36.
Chubb opened at $135.89 on Friday, MarketBeat Ratings reports. Chubb Ltd has a 1-year low of $123.96 and a 1-year high of $157.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $63.50 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07.
Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.06. Chubb had a return on equity of 7.41% and a net margin of 11.53%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.30 billion. During the same period last year, the company posted $2.50 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. analysts expect that Chubb Ltd will post 10.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 21st will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.15%. Chubb’s payout ratio is 36.36%.
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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