Chubb Limited $CB Stake Lowered by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC reduced its stake in Chubb Limited by 19.4% during the second quarter, now holding 6,951 shares valued at $2,014,000.
• Chubb's recent quarterly earnings showed an EPS of $6.14, exceeding estimates by $0.30, with revenue of $14.20 billion.
• The company announced a quarterly dividend of $0.97, with an annualized yield of 1.4% for investors as of September 12th.

Ballentine Partners LLC cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 19.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,951 shares of the financial services provider's stock after selling 1,678 shares during the period. Ballentine Partners LLC's holdings in Chubb were worth $2,014,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. E Fund Management Co. Ltd. boosted its holdings in Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after purchasing an additional 36 shares in the last quarter. Rise Advisors LLC boosted its holdings in Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock worth $254,000 after purchasing an additional 37 shares in the last quarter. Sunflower Bank N.A. boosted its holdings in Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after purchasing an additional 38 shares in the last quarter. Avantax Planning Partners Inc. lifted its position in Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after acquiring an additional 38 shares during the last quarter. Finally, Sky Investment Group LLC lifted its position in Chubb by 1.6% during the 2nd quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock worth $694,000 after acquiring an additional 38 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price for the company. Morgan Stanley cut their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and cut their target price for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Wells Fargo & Company cut their price objective on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Finally, UBS Group cut their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $303.06.

Insider Activity at Chubb

In other news, Director Michael Corbat bought 425 shares of the business's stock in a transaction 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 completion of the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company's stock.

Chubb Price Performance

Shares of Chubb stock opened at $278.22 on Thursday. 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 capitalization of $110.92 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 3.11 and a beta of 0.56. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The firm's 50-day moving average price is $273.63 and its two-hundred day moving average price is $282.78.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating 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 business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the prior year, the firm earned $5.38 earnings per share. Chubb's revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio is currently 17.12%.

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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