Chubb Limited $CB Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Chubb Limited (NYSE:CB) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 684,735 shares of the financial services provider’s stock after selling 10,955 shares during the period. Rhumbline Advisers’ holdings in Chubb were worth $198,381,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC increased its position in shares of Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock valued at $744,000 after purchasing an additional 143 shares during the last quarter. Assetmark Inc. lifted its position in shares of Chubb by 14.1% during the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock worth $20,655,000 after purchasing an additional 8,828 shares during the last quarter. Trifecta Capital Advisors LLC grew its stake in shares of Chubb by 764.7% during the second quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 130 shares in the last quarter. Jump Financial LLC increased its holdings in Chubb by 633.6% in the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock valued at $2,470,000 after buying an additional 7,065 shares during the last quarter. Finally, Investment Partners Asset Management Inc. increased its holdings in Chubb by 19.3% in the second quarter. Investment Partners Asset Management Inc. now owns 1,789 shares of the financial services provider’s stock valued at $518,000 after buying an additional 290 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $309.00 price target on shares of Chubb in a report on Monday, October 27th. Barclays raised their target price on Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Hsbc Global Res lowered shares of Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Finally, Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $308.05.

Chubb Trading Up 0.8%

NYSE:CB opened at $298.55 on Friday. The company has a market capitalization of $117.50 billion, a PE ratio of 12.46, a P/E/G ratio of 2.74 and a beta of 0.58. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The stock’s 50 day moving average price is $282.16 and its 200 day moving average price is $281.34. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

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

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider owned 90,600 shares in the company, valued at $25,458,600. The trade was a 20.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 45,903 shares of company stock worth $13,245,483. 0.77% of the stock is currently owned by company insiders.

Chubb Company Profile

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.