Assenagon Asset Management S.A. Has $3.03 Million Stake in Chubb Limited $CB

Assenagon Asset Management S.A. grew its holdings in Chubb Limited (NYSE:CB) by 0.6% during the second quarter, Holdings Channel.com reports. The firm owned 10,445 shares of the financial services provider’s stock after acquiring an additional 65 shares during the period. Assenagon Asset Management S.A.’s holdings in Chubb were worth $3,026,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. E Fund Management Co. Ltd. increased its position in Chubb by 3.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 36 shares in the last quarter. Rise Advisors LLC grew its stake in shares of Chubb by 4.6% during the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 37 shares during the last quarter. Sunflower Bank N.A. increased its holdings in shares of Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 38 shares in the last quarter. Avantax Planning Partners Inc. raised its position in Chubb by 5.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 38 shares during the last quarter. Finally, Sky Investment Group LLC lifted its holdings in Chubb by 1.6% during the 2nd quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider’s stock worth $694,000 after buying an additional 38 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. UBS Group cut their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Barclays lowered shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $321.00 to $298.00 in a report on Monday, July 7th. Finally, Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $303.06.

Chubb Stock Up 0.1%

Shares of NYSE:CB opened at $278.40 on Friday. The company has a 50 day moving average price of $273.70 and a two-hundred day moving average price of $282.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $111.00 billion, a PE ratio of 12.28, a PEG ratio of 3.14 and a beta of 0.56. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.38 EPS. Analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a $0.97 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s payout ratio is currently 17.12%.

About Chubb

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