Amundi Has $522.59 Million Stake in Chubb Limited $CB

Key Points

• Amundi reduced its Chubb stake by 3.6% in the first quarter, selling 60,177 shares but retaining 1.60 million shares valued at approximately $522.6 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company also increased its quarterly dividend to $1.02, implying an annualized yield of about 1.1%.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $360.09; Chubb shares opened at $362.05, near their 12-month high of $365.91. Two executives recently sold shares, reducing their holdings by 10.16% and 20.12%, respectively.

Amundi lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,603,392 shares of the financial services provider's stock after selling 60,177 shares during the quarter. Amundi owned approximately 0.41% of Chubb worth $522,594,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after buying an additional 49 shares during the period. Frazier Financial Advisors LLC increased its position in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC acquired a new stake in Chubb in the first quarter worth about $29,000. Laurel Wealth Advisors LLC acquired a new stake in Chubb in the fourth quarter worth about $31,000. Finally, Ares Financial Consulting LLC bought a new stake in Chubb during the 4th quarter worth about $32,000. 83.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and raised their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. UBS Group increased their price objective on shares of Chubb from $340.00 to $369.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Evercore reaffirmed an "outperform" rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Finally, Bank of America dropped their target price on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a research report on Tuesday, April 14th. Two investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $360.09.

Chubb Trading Down 0.4%

CB opened at $362.05 on Thursday. The stock has a market capitalization of $140.42 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.80 and a beta of 0.40. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $365.91. The firm's fifty day simple moving average is $337.47 and its 200 day simple moving average is $328.27. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the previous year, the firm posted $6.14 earnings per share. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Chubb Limited will post 27.4 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 12th. Chubb's dividend payout ratio is 14.43%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source