Saxon Interests Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB – Free Report) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,027 shares of the financial services provider’s stock after selling 609 shares during the period. Saxon Interests Inc.’s holdings in Chubb were worth $776,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new position in Chubb during the 1st quarter worth approximately $195,000. Roundview Capital LLC increased its stake in Chubb by 2.6% during the 1st quarter. Roundview Capital LLC now owns 4,165 shares of the financial services provider’s stock worth $891,000 after buying an additional 106 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Chubb by 59.8% in the first quarter. Sequoia Financial Advisors LLC now owns 3,029 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 1,134 shares in the last quarter. Brighton Jones LLC grew its stake in Chubb by 18.7% during the 1st quarter. Brighton Jones LLC now owns 1,287 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 203 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Chubb by 22.0% during the 1st quarter. Baird Financial Group Inc. now owns 154,794 shares of the financial services provider’s stock worth $33,110,000 after purchasing an additional 27,926 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Chubb
In related news, COO John W. Keogh sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total value of $2,010,100.00. Following the completion of the sale, the chief operating officer now owns 265,184 shares of the company’s stock, valued at approximately $53,304,635.84. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO John W. Keogh sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total value of $2,010,100.00. Following the transaction, the chief operating officer now directly owns 265,184 shares of the company’s stock, valued at approximately $53,304,635.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Annmarie T. Hagan sold 1,187 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $211.81, for a total value of $251,418.47. Following the transaction, the chief accounting officer now owns 13,234 shares in the company, valued at approximately $2,803,093.54. The disclosure for this sale can be found here. Insiders have sold 22,534 shares of company stock worth $4,645,275 over the last 90 days. 0.37% of the stock is currently owned by corporate insiders.
Chubb Trading Down 0.6 %
Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.51. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $11.24 billion. During the same period in the prior year, the business earned $4.20 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Chubb Limited will post 18.18 EPS for the current year.
Chubb declared that its Board of Directors has approved a share repurchase plan on Monday, June 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Chubb Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a dividend of $0.86 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.62%. Chubb’s payout ratio is 24.71%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CB. Barclays boosted their price target on Chubb from $260.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Morgan Stanley lifted their price target on shares of Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 target price on shares of Chubb in a research note on Tuesday, August 29th. JPMorgan Chase & Co. boosted their price objective on Chubb from $241.00 to $250.00 in a research report on Thursday, July 6th. Finally, Citigroup increased their target price on Chubb from $229.00 to $235.00 in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Chubb has an average rating of “Moderate Buy” and an average price target of $242.79.
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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