Financial Advocates Investment Management Reduces Holdings in Chubb Limited (NYSE:CB)

Financial Advocates Investment Management trimmed its holdings in Chubb Limited (NYSE:CB) by 2.1% in the second quarter, Holdings Channel reports. The institutional investor owned 3,577 shares of the financial services provider’s stock after selling 76 shares during the quarter. Financial Advocates Investment Management’s holdings in Chubb were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. ING Groep NV raised its position in shares of Chubb by 175,378.1% in the fourth quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock worth $25,381,000 after buying an additional 112,242 shares in the last quarter. Van Leeuwen & Company LLC raised its holdings in shares of Chubb by 602.7% in the 4th quarter. Van Leeuwen & Company LLC now owns 7,941 shares of the financial services provider’s stock valued at $1,795,000 after acquiring an additional 6,811 shares in the last quarter. MONECO Advisors LLC bought a new stake in shares of Chubb during the 4th quarter valued at about $209,000. ORG Partners LLC bought a new position in shares of Chubb in the second quarter worth approximately $963,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Chubb by 16.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after purchasing an additional 10,745 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 2,400 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total value of $626,352.00. Following the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at $11,648,059.36. The disclosure for this sale can be found here. Insiders have sold 14,521 shares of company stock worth $3,878,712 in the last 90 days. Insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $281.98 on Friday. The business’s fifty day moving average is $265.61 and its 200 day moving average is $258.97. The company has a quick ratio of 0.29, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market cap of $114.50 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 5.21 and a beta of 0.66. Chubb Limited has a twelve month low of $198.67 and a twelve month high of $282.25.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the prior year, the firm earned $4.92 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. Research analysts expect that Chubb Limited will post 21.15 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. Chubb’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

CB has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley cut their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Keefe, Bruyette & Woods upped their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $270.79.

About Chubb

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.