Headlands Technologies LLC Trims Position in Chubb Limited $CB

Key Points

• Headlands Technologies reduced its Chubb position by 36.3% in the second quarter, selling 3,393 shares and retaining 5,961 shares worth approximately $2.03 million. Institutional investors collectively own 83.81% of Chubb.
• Analyst sentiment is mixed, with an overall “Hold” consensus and an average price target of $361.00; targets from individual analysts range from $354 to $400.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate, while revenue increased 3.6% year over year. The company also declared a quarterly dividend of $1.02, equivalent to an annualized yield of about 1.2%.

Headlands Technologies LLC decreased its position in Chubb Limited (NYSE:CB - Free Report) by 36.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,961 shares of the financial services provider's stock after selling 3,393 shares during the quarter. Headlands Technologies LLC's holdings in Chubb were worth $2,031,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CB. XXEC Inc. bought a new position in shares of Chubb in the second quarter worth about $228,226,000. Berkshire Hathaway Inc bought a new position in shares of Chubb during the 2nd quarter valued at approximately $11,670,067,000. BlackRock Inc. bought a new position in shares of Chubb during the 2nd quarter valued at approximately $9,913,336,000. GQG Partners LLC purchased a new stake in Chubb in the 2nd quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE purchased a new stake in Chubb in the 2nd quarter worth approximately $1,545,084,000. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on CB shares. Weiss Ratings downgraded shares of Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday. Citizens Jmp restated a "market outperform" rating and set a $400.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and lifted their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Morgan Stanley increased their price target on Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $361.00.

Insiders Place Their Bets

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company's stock.

Chubb Stock Performance

CB opened at $339.30 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $130.90 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.66 and a beta of 0.39. The company has a fifty day moving average of $347.74 and a 200 day moving average of $334.12. 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 results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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