26,847 Chubb Limited $CB Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management reduced its Chubb stake by 5.8%, selling 26,847 shares and retaining 433,925 shares worth approximately $141.1 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding estimates by $0.49, while revenue rose 3.6% year over year to $11.97 billion. The company also declared a $1.02 quarterly dividend, representing a 1.2% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $360.77, compared with the stock’s reported trading price of $330.13.

Confluence Investment Management LLC reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 433,925 shares of the financial services provider's stock after selling 26,847 shares during the quarter. Chubb comprises 2.1% of Confluence Investment Management LLC's portfolio, making the stock its 7th biggest holding. Confluence Investment Management LLC owned approximately 0.11% of Chubb worth $141,134,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. XXEC Inc. bought a new position in Chubb in the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc bought a new position in Chubb during the second quarter worth $11,670,067,000. BlackRock Inc. acquired a new position in Chubb during the 2nd quarter valued at $9,913,336,000. GQG Partners LLC bought a new stake in Chubb in the 2nd quarter valued at $4,250,113,000. Finally, Bank of America Corp DE acquired a new stake in Chubb in the 2nd quarter worth $1,545,084,000. Institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph Wayland sold 8,502 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of CB traded up $4.88 on Thursday, hitting $330.13. The company's stock had a trading volume of 495,540 shares, compared to its average volume of 1,719,908. The company has a market capitalization of $127.36 billion, a PE ratio of 11.68, a PEG ratio of 1.58 and a beta of 0.37. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a 50 day moving average price of $343.47 and a 200 day moving average price of $335.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.14 EPS. On average, research analysts anticipate that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared 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 is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio is 14.43%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CB. UBS Group increased their target price on shares of Chubb from $340.00 to $369.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. The Goldman Sachs Group upped their price target on Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Morgan Stanley raised their price objective on Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $360.77.

Chubb Company Profile

Chubb Limited NYSE: CB is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers' compensation, homeowners insurance, automobile coverage, and specialty insurance.

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