DAVENPORT & Co LLC lessened its holdings in shares of Chubb Ltd (NYSE:CB) by 16.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,936 shares of the financial services provider’s stock after selling 753 shares during the quarter. DAVENPORT & Co LLC’s holdings in Chubb were worth $498,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of CB. Providence Capital Advisors LLC boosted its position in shares of Chubb by 1,478.6% during the 1st quarter. Providence Capital Advisors LLC now owns 221 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 207 shares during the last quarter. BDO Wealth Advisors LLC boosted its position in shares of Chubb by 1,144.4% during the 1st quarter. BDO Wealth Advisors LLC now owns 224 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 206 shares during the last quarter. Lenox Wealth Advisors LLC boosted its position in shares of Chubb by 296.3% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 214 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 160 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Chubb during the 1st quarter valued at about $31,000. Finally, Verus Capital Partners LLC bought a new stake in Chubb in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 87.42% of the company’s stock.
CB opened at $127.24 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.33. Chubb Ltd has a 52-week low of $87.35 and a 52-week high of $167.74. The stock has a market capitalization of $57.43 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The stock’s 50 day moving average price is $129.08 and its 200-day moving average price is $129.18.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, June 18th. This is a boost from Chubb’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a dividend yield of 2.45%. Chubb’s payout ratio is 30.86%.
A number of research firms recently weighed in on CB. Evercore ISI upgraded Chubb from an “in-line” rating to an “outperform” rating and set a $157.00 target price for the company in a research report on Thursday, July 16th. JMP Securities dropped their target price on Chubb from $175.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, April 16th. Zacks Investment Research downgraded Chubb from a “hold” rating to a “sell” rating and set a $133.00 target price for the company. in a research report on Thursday, July 9th. Wells Fargo & Co restated a “buy” rating and issued a $150.00 target price (up previously from $142.00) on shares of Chubb in a research report on Monday, July 6th. Finally, Royal Bank of Canada boosted their target price on Chubb from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $147.50.
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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