Thrivent Financial for Lutherans Reduces Stock Position in Chubb Limited (NYSE:CB)

Thrivent Financial for Lutherans lessened its stake in Chubb Limited (NYSE:CB) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 482,645 shares of the financial services provider’s stock after selling 363 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Chubb were worth $123,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $963,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 valued at $19,448,000 after purchasing an additional 10,745 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Chubb in the 1st quarter valued at $984,000. Sierra Summit Advisors LLC acquired a new stake in shares of Chubb during the 4th quarter worth about $844,000. Finally, Leuthold Group LLC purchased a new stake in Chubb in the 1st quarter valued at about $3,033,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $290.71 on Friday. The company has a fifty day moving average of $275.87 and a two-hundred day moving average of $263.26. The company has a market capitalization of $118.05 billion, a PE ratio of 12.90, a P/E/G ratio of 5.59 and a beta of 0.66. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.92 EPS. As a group, analysts expect that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,636 shares of company stock valued at $24,874,208. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CB. Royal Bank of Canada boosted their price target 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. Keefe, Bruyette & Woods raised their price target on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Barclays started coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Finally, William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $274.70.

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.