Corient Private Wealth LP Sells 38,782 Shares of Chubb Limited $CB

Key Points

• Corient Private Wealth reduced its Chubb position by 5.7%, selling 38,782 shares and retaining 646,685 shares valued at approximately $220.4 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, beating analyst expectations of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company has a 14.47% return on equity and an 18.10% net margin.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 dividend and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $361, compared with the stock’s $338.51 price.

Corient Private Wealth LP decreased its position in Chubb Limited (NYSE:CB - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 646,685 shares of the financial services provider's stock after selling 38,782 shares during the period. Corient Private Wealth LP owned approximately 0.17% of Chubb worth $220,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of Chubb by 20.3% in the 2nd quarter. HighTower Advisors LLC now owns 246,875 shares of the financial services provider's stock valued at $84,120,000 after purchasing an additional 41,622 shares during the period. Groupe la Francaise boosted its position in shares of Chubb by 34.1% during the 2nd quarter. Groupe la Francaise now owns 79,780 shares of the financial services provider's stock valued at $27,192,000 after purchasing an additional 20,302 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Chubb during the second quarter worth approximately $14,559,000. Financial Insights Inc. acquired a new stake in Chubb during the second quarter worth approximately $233,000. Finally, California State Teachers Retirement System increased its holdings in Chubb by 32,258.2% in the second quarter. California State Teachers Retirement System now owns 184,618,043 shares of the financial services provider's stock worth $62,906,752,000 after purchasing an additional 184,047,499 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Up 0.3%

CB stock opened at $338.51 on Friday. The stock's 50 day simple moving average is $347.43 and its 200 day simple moving average is $334.75. The company has a market cap of $130.60 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.61 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $6.14 earnings per share. On average, research analysts expect that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio (DPR) is presently 14.43%.

Wall Street Analyst Weigh In

CB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Mizuho raised their price objective 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. Weiss Ratings lowered shares of Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, August 27th. Morgan Stanley boosted their target price on shares of Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Finally, Evercore reissued an "outperform" rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $361.00.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph Wayland sold 8,502 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction on 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 directly 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company's stock.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers' compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.

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