Chubb Limited $CB Shares Sold by Boston Common Asset Management LLC

Key Points

• Boston Common Asset Management LLC reduced its stake in Chubb Limited by 12.5% during Q2, now owning 76,673 shares valued at approximately $22.21 million.
• Insider activity saw Director Michael Corbat purchase 425 shares at $269.80 each, increasing his position by 20.99%.
• Chubb Limited reported a Q2 EPS gain of $6.14, exceeding expectations, with a year-over-year revenue increase of 6.3%.

Boston Common Asset Management LLC lessened its position in Chubb Limited (NYSE:CB - Free Report) by 12.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,673 shares of the financial services provider's stock after selling 10,908 shares during the period. Boston Common Asset Management LLC's holdings in Chubb were worth $22,214,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Talbot Financial LLC increased its stake in Chubb by 20.3% during the 2nd quarter. Talbot Financial LLC now owns 64,468 shares of the financial services provider's stock valued at $18,678,000 after buying an additional 10,885 shares during the period. Clarius Group LLC increased its stake in Chubb by 23.0% during the 2nd quarter. Clarius Group LLC now owns 2,974 shares of the financial services provider's stock valued at $862,000 after buying an additional 557 shares during the period. Financial Insights Inc. increased its stake in Chubb by 7.4% during the 2nd quarter. Financial Insights Inc. now owns 899 shares of the financial services provider's stock valued at $260,000 after buying an additional 62 shares during the period. Penobscot Investment Management Company Inc. increased its stake in Chubb by 0.5% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 8,602 shares of the financial services provider's stock valued at $2,492,000 after buying an additional 45 shares during the period. Finally, Pflug Koory LLC increased its stake in Chubb by 14.2% during the 2nd quarter. Pflug Koory LLC now owns 2,118 shares of the financial services provider's stock valued at $614,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Activity at Chubb

In other news, Director Michael Corbat bought 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on CB shares. Citigroup started coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price on the stock. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and lowered their target price for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Chubb in a research note on Saturday, September 27th. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has assigned 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 price target of $303.24.

Chubb Stock Performance

Shares of CB opened at $283.99 on Friday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a 50-day moving average of $274.76 and a two-hundred day moving average of $282.15. The stock has a market cap of $113.22 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 3.20 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period last year, the company posted $5.38 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's dividend payout ratio (DPR) is presently 17.12%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.