Jennison Associates LLC Sells 36,488 Shares of Chubb Limited $CB

Jennison Associates LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 4.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 744,344 shares of the financial services provider’s stock after selling 36,488 shares during the quarter. Jennison Associates LLC’s holdings in Chubb were worth $215,651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CB. North Capital Inc. purchased a new position in shares of Chubb in the first quarter valued at $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the first quarter valued at $31,000. 1248 Management LLC purchased a new position in shares of Chubb in the first quarter valued at $31,000. WPG Advisers LLC bought a new stake in Chubb in the first quarter worth $33,000. Finally, Maseco LLP bought a new stake in Chubb in the second quarter worth $35,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $300.00 price target on shares of Chubb in a research report on Monday. Citigroup raised their price target on Chubb from $326.00 to $331.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Barclays raised their price target on Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research report on Wednesday, October 22nd. Finally, Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $307.58.

Chubb Stock Down 2.2%

NYSE:CB opened at $275.39 on Wednesday. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a market cap of $109.80 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The stock has a fifty day simple moving average of $277.85 and a 200-day simple moving average of $280.81. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating the consensus estimate of $5.51 by $1.98. The firm had revenue of $14.87 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.72 earnings per share. Analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

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.