Chubb Limited $CB Shares Sold by Amundi

Key Points

• Amundi reduced its Chubb position by 3.9% in the second quarter, selling 63,098 shares and retaining 1.54 million shares valued at approximately $524.8 million. Institutional investors collectively own 83.81% of the company.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate, while revenue rose 3.6% year over year. Analysts expect full-year EPS of $27.35, though the stock carries a consensus “Hold” rating with a $361 price target.
• The company declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 1.2% yield. Two company insiders also recently sold shares, reducing their holdings.

Amundi lessened its position in Chubb Limited (NYSE:CB - Free Report) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,540,294 shares of the financial services provider's stock after selling 63,098 shares during the period. Amundi owned approximately 0.40% of Chubb worth $524,840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in Chubb during the 2nd quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC bought a new position in shares of Chubb in the second quarter valued at approximately $26,000. Highland Investment Advisors LLC bought a new position in shares of Chubb in the second quarter valued at approximately $26,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 49 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Down 0.1%

NYSE:CB opened at $341.16 on Tuesday. The company's 50 day moving average is $348.24 and its 200-day moving average is $334.58. 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 Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The firm has a market cap of $131.62 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.63 and a beta of 0.37.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $11.97 billion for 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 firm's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $6.14 earnings per share. Equities analysts anticipate that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's payout ratio is currently 14.43%.

Insiders Place Their Bets

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on 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 sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays set a $387.00 price target on Chubb in a research note on Tuesday, July 7th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Citizens Jmp restated a "market outperform" rating and set a $400.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Mizuho lifted their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $361.00.

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.

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