Assenagon Asset Management S.A. Has $4.52 Million Stock Holdings in Chubb Limited $CB

Key Points

• Assenagon Asset Management cut its Chubb stake by 90.4% in the second quarter, selling 125,021 shares and retaining 13,267 shares valued at approximately $4.52 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, beating analyst estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company increased its quarterly dividend to $1.02 per share, or $4.08 annually.
• Chubb shares recently traded at $342.93, while analysts’ consensus rating remained “Hold” with an average price target of $360.09; two company executives also sold shares in recent transactions.

Assenagon Asset Management S.A. trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 90.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,267 shares of the financial services provider's stock after selling 125,021 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Chubb were worth $4,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CB. CBIZ Investment Advisory Services LLC raised its holdings in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after buying an additional 49 shares during the period. Frazier Financial Advisors LLC boosted its holdings in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after buying an additional 38 shares during the period. Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb in the first quarter valued at approximately $29,000. Laurel Wealth Advisors LLC acquired a new position in shares of Chubb in the fourth quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Chubb during the fourth quarter worth $32,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Down 1.2%

NYSE:CB opened at $342.93 on Thursday. The firm has a market capitalization of $132.30 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The stock's 50 day moving average price is $343.37 and its two-hundred day moving average price is $331.60. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. During the same quarter in the prior year, the business posted $6.14 EPS. The business's revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is presently 14.43%.

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Jefferies Financial Group reduced their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. HSBC cut Chubb from a "buy" rating to a "hold" rating and increased their target price for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Barclays set a $387.00 price target on Chubb in a research note on Tuesday, July 7th. Finally, Citigroup restated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $360.09.

Chubb Company Profile

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.

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