Wellington Management Group LLP Sells 113,755 Shares of Chubb Limited $CB

Wellington Management Group LLP decreased its position in shares of Chubb Limited (NYSE:CB) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 6,195,189 shares of the financial services provider’s stock after selling 113,755 shares during the period. Wellington Management Group LLP’s holdings in Chubb were worth $2,110,949,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. purchased a new position in shares of Chubb in the second quarter valued at about $25,000. Dunhill Financial LLC bought a new stake in shares of Chubb during the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Chubb in the second quarter valued at approximately $26,000. Finally, Frazier Financial Advisors LLC grew its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity

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

Chubb Stock Performance

Shares of NYSE:CB opened at $340.34 on Friday. The firm has a 50 day moving average of $347.46 and a 200 day moving average of $333.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $131.30 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter last year, the firm earned $6.14 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts predict that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group raised their price objective on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Evercore reissued an “outperform” rating and set a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. HSBC lowered Chubb from a “buy” rating to a “hold” rating and raised their price target for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group upped their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $361.00.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.