Fort Washington Investment Advisors Inc. OH Sells 806 Shares of Chubb Limited $CB

Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 8.5% during the 2nd quarter, Holdings Channel reports. The fund owned 8,717 shares of the financial services provider’s stock after selling 806 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Chubb were worth $2,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the first quarter valued at approximately $25,000. North Capital Inc. bought a new stake in Chubb during the 1st quarter valued at $26,000. IMA Advisory Services Inc. bought a new stake in Chubb during the 1st quarter valued at $31,000. 1248 Management LLC bought a new stake in Chubb during the 1st quarter valued at $31,000. Finally, WPG Advisers LLC bought a new stake in Chubb during the first quarter valued at about $33,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Down 0.5%

CB stock opened at $279.41 on Tuesday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The firm has a 50 day moving average of $273.94 and a 200 day moving average of $282.44. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $111.40 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 3.17 and a beta of 0.56.

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

Chubb Dividend Announcement

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

Insider Activity at Chubb

In other news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CB shares. Piper Sandler reaffirmed a “neutral” rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and lowered their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Citigroup initiated coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a “buy” rating and a $326.00 target price for the company. Wolfe Research upgraded shares of Chubb to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Hsbc Global Res cut Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $303.06.

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.