Tocqueville Asset Management L.P. cut its stake in shares of Chubb Ltd (NYSE:CB) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,968 shares of the financial services provider’s stock after selling 4,311 shares during the period. Tocqueville Asset Management L.P.’s holdings in Chubb were worth $5,150,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CB. JNBA Financial Advisors grew its stake in Chubb by 223.2% in the second quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 125 shares during the period. Mcmillion Capital Management Inc. acquired a new position in Chubb in the second quarter valued at about $27,000. Meridian Wealth Management LLC acquired a new position in Chubb in the second quarter valued at about $28,000. Ascent Wealth Partners LLC acquired a new position in Chubb in the first quarter valued at about $28,000. Finally, Winslow Evans & Crocker Inc. grew its stake in Chubb by 2,233.3% in the first quarter. Winslow Evans & Crocker Inc. now owns 280 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 268 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.
In related news, insider Paul Bennett Medini sold 2,125 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $153.72, for a total transaction of $326,655.00. Following the sale, the insider now owns 89,534 shares in the company, valued at $13,763,166.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Juan C. Andrade sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $145.22, for a total value of $726,100.00. Following the sale, the insider now owns 113,479 shares in the company, valued at approximately $16,479,420.38. The disclosure for this sale can be found here. Insiders have sold 349,821 shares of company stock valued at $52,059,287 over the last ninety days. 0.47% of the stock is owned by insiders.
CB has been the subject of a number of research analyst reports. UBS Group boosted their target price on Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. JMP Securities reissued an “outperform” rating on shares of Chubb in a research note on Thursday, July 25th. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Barclays boosted their target price on Chubb from $160.00 to $167.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Wells Fargo & Co boosted their target price on Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Chubb presently has a consensus rating of “Hold” and a consensus target price of $150.55.
Shares of CB stock traded down $3.85 on Wednesday, hitting $154.98. 26,700 shares of the stock were exchanged, compared to its average volume of 1,522,282. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $72.75 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 1.54 and a beta of 0.72. The business has a 50-day moving average of $151.00. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $160.23.
Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, topping 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 return on equity of 8.53% and a net margin of 11.00%. Chubb’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. As a group, equities research analysts expect that Chubb Ltd will post 10.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $3.00 annualized dividend and a dividend yield of 1.94%. Chubb’s dividend payout ratio is currently 31.78%.
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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