Chubb Limited $CB Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. reduced its position in Chubb Limited by 1.2%, owning 121,153 shares valued at $35.1 million as of the latest SEC filing.
• Chubb reported a net income of $6.14 EPS for the last quarter, exceeding analyst expectations and reflecting a 6.3% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.97 per share, translating to an annualized yield of 1.4%.

Deroy & Devereaux Private Investment Counsel Inc. decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,153 shares of the financial services provider's stock after selling 1,533 shares during the quarter. Chubb comprises about 1.9% of Deroy & Devereaux Private Investment Counsel Inc.'s investment portfolio, making the stock its 14th largest holding. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Chubb were worth $35,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the first quarter valued at $25,000. North Capital Inc. acquired a new position in shares of Chubb during the first quarter valued at $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb during the first quarter valued at $31,000. 1248 Management LLC acquired a new position in shares of Chubb during the first quarter valued at $31,000. Finally, WPG Advisers LLC acquired a new position in shares of Chubb during the first quarter valued at $33,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

Shares of Chubb stock opened at $284.60 on Wednesday. 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 company's 50-day moving average price is $277.30 and its two-hundred day moving average price is $281.72. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The stock has a market cap of $113.47 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.15 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly 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 firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the previous year, the business earned $5.38 earnings per share. Chubb's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Chubb from $298.00 to $310.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Chubb from $267.00 to $277.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Chubb from $299.00 to $303.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $321.00 to $327.00 and gave the company a "neutral" rating in a research note on Thursday, October 9th. Finally, 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 objective on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $305.28.

Insider Transactions at Chubb

In related news, Director Michael Corbat acquired 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company's stock.

Chubb Profile

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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