Chubb Limited $CB Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC reduced its position in Chubb Limited by 1.8%, selling 9,806 shares, and now holds approximately 2.2% of its portfolio in Chubb.
• Chubb recently reported a quarterly earnings of $6.14 per share, surpassing estimates, with a revenue of $14.20 billion, reflecting a 6.3% year-over-year increase.
• The company declared a quarterly dividend of $0.97, scheduled for payment on October 3rd, which equates to an annualized yield of 1.4%.

Confluence Investment Management LLC trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 548,325 shares of the financial services provider's stock after selling 9,806 shares during the quarter. Chubb accounts for approximately 2.2% of Confluence Investment Management LLC's portfolio, making the stock its 2nd largest holding. Confluence Investment Management LLC owned about 0.14% of Chubb worth $158,861,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CB. Peoples Bank KS purchased a new stake in Chubb in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb during the 1st quarter worth approximately $25,000. North Capital Inc. acquired a new stake in shares of Chubb in the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb in the first quarter valued at approximately $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb in the first quarter valued at approximately $31,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CB. UBS Group cut their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Citigroup started coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $302.00.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.77% of the company's stock.

Chubb Price Performance

Shares of NYSE CB opened at $278.02 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $110.84 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 3.19 and a beta of 0.56. The company's 50-day moving average price is $274.38 and its 200 day moving average price is $283.34. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.38 earnings per share. As a group, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's payout ratio is 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.

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