26,847 Chubb Limited $CB Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its position in shares of Chubb Limited (NYSE:CB) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,925 shares of the financial services provider’s stock after selling 26,847 shares during the quarter. Chubb comprises about 2.1% of Confluence Investment Management LLC’s investment portfolio, making the stock its 7th largest position. Confluence Investment Management LLC’s holdings in Chubb were worth $141,134,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. XXEC Inc. bought a new stake in Chubb during the 2nd quarter worth about $228,226,000. Berkshire Hathaway Inc lifted its position in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. BlackRock Inc. bought a new position in shares of Chubb in the 2nd quarter valued at about $9,913,336,000. GQG Partners LLC acquired a new stake in shares of Chubb during the 2nd quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE raised its stake in shares of Chubb by 3.1% during the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after buying an additional 147,876 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 1.5%

NYSE:CB traded up $4.88 on Thursday, hitting $330.13. 495,540 shares of the company’s stock were exchanged, compared to its average volume of 1,719,908. The firm has a 50-day moving average price of $343.47 and a 200-day moving average price of $335.11. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $127.36 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.58 and a beta of 0.37.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.14 EPS. As a group, analysts expect that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CB shares. Morgan Stanley increased their price objective on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Mizuho reduced their price target on Chubb from $352.00 to $347.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 16th. Barclays set a $387.00 target price on Chubb in a research note on Tuesday, July 7th. Wells Fargo & Company dropped their price target on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Finally, UBS Group boosted their price objective on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $360.77.

Insider Activity at Chubb

In related news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Chubb Company Profile

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.