Payden & Rygel Trims Position in Chubb Limited (NYSE:CB)

Payden & Rygel cut its position in shares of Chubb Limited (NYSE:CB) by 15.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,670 shares of the financial services provider’s stock after selling 27,500 shares during the period. Chubb makes up about 2.1% of Payden & Rygel’s portfolio, making the stock its 6th biggest holding. Payden & Rygel’s holdings in Chubb were worth $29,013,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its position in shares of Chubb by 102,751.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after buying an additional 8,281,754 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Chubb by 17.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock valued at $5,596,629,000 after purchasing an additional 4,210,564 shares during the period. Norges Bank bought a new stake in shares of Chubb in the 4th quarter valued at approximately $619,661,000. FMR LLC boosted its holdings in shares of Chubb by 21.8% in the 1st quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock worth $2,739,488,000 after purchasing an additional 2,528,499 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Chubb by 165.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,938,042 shares of the financial services provider’s stock valued at $209,485,000 after purchasing an additional 1,829,966 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CB. Barclays raised their price target on Chubb from $260.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price target on shares of Chubb in a research note on Wednesday, July 26th. JPMorgan Chase & Co. downgraded shares of Chubb from an “overweight” rating to a “neutral” rating and set a $250.00 price target on the stock. in a report on Monday, October 2nd. StockNews.com raised shares of Chubb from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Chubb in a research note on Tuesday, August 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.71.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 10,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the completion of the sale, the chief operating officer now owns 265,184 shares in the company, valued at $53,304,635.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Joseph F. Wayland sold 11,537 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $213.67, for a total value of $2,465,110.79. Following the sale, the executive vice president now directly owns 93,315 shares in the company, valued at approximately $19,938,616.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Keogh sold 10,000 shares of Chubb stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the completion of the transaction, the chief operating officer now directly owns 265,184 shares in the company, valued at approximately $53,304,635.84. The disclosure for this sale can be found here. Insiders have sold a total of 58,665 shares of company stock valued at $12,597,136 over the last ninety days. 0.37% of the stock is owned by company insiders.

Chubb Stock Up 0.3 %

Shares of CB stock traded up $0.63 during mid-day trading on Friday, hitting $222.63. The stock had a trading volume of 1,503,627 shares, compared to its average volume of 1,792,378. Chubb Limited has a 12-month low of $183.40 and a 12-month high of $231.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s 50-day moving average is $213.41 and its two-hundred day moving average is $202.61. The firm has a market capitalization of $90.83 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.74. Chubb had a net margin of 14.58% and a return on equity of 14.26%. The company had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.16 billion. On average, analysts predict that Chubb Limited will post 19.18 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.55%. Chubb’s dividend payout ratio is presently 20.32%.

Chubb 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.