ProShare Advisors LLC Sells 11,876 Shares of Chubb Limited $CB

Key Points

• ProShare Advisors reduced its Chubb stake by 2.1% in the third quarter, selling 11,876 shares and retaining 552,525 shares valued at approximately $179.7 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly earnings of $7.66 per share, beating analyst estimates of $6.77, while revenue of $16.20 billion also exceeded expectations. Analysts project full-year earnings of $28.82 per share.
• Chubb shares opened at $364.12, near their 52-week high, and the company maintains a quarterly dividend of $1.02 per share, representing a 1.1% yield. Wall Street’s consensus rating is “Hold,” with an average price target of $362.78.

ProShare Advisors LLC lessened its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,525 shares of the financial services provider's stock after selling 11,876 shares during the quarter. ProShare Advisors LLC owned approximately 0.14% of Chubb worth $179,709,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in Chubb in the 2nd quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb during the 2nd quarter worth about $25,000. Parvin Asset Management LLC bought a new stake in shares of Chubb in the 2nd quarter valued at approximately $26,000. Highland Investment Advisors LLC acquired a new position in Chubb in the second quarter worth approximately $26,000. Finally, Frazier Financial Advisors LLC raised its position in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Up 0.5%

Chubb stock opened at $364.12 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.29. The company's 50-day moving average is $343.33 and its 200-day moving average is $333.76. The firm has a market capitalization of $139.12 billion, a PE ratio of 12.74, a P/E/G ratio of 1.69 and a beta of 0.36. Chubb Limited has a fifty-two week low of $273.35 and a fifty-two week high of $369.00.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, topping analysts' consensus estimates of $6.77 by $0.89. Chubb had a return on equity of 14.41% and a net margin of 18.15%. The business had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same period in the previous year, the firm earned $7.49 EPS. Sell-side analysts anticipate that Chubb Limited will post 28.82 earnings per share for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb's payout ratio is 14.28%.

Insiders Place Their Bets

In other Chubb news, Director Michael Connors sold 5,500 shares of the company's stock in a transaction on 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 transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Boroughs sold 13,596 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the completion of the transaction, the executive vice president directly owned 5,588 shares in the company, valued at $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Chubb from $350.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 27th. Weiss Ratings raised Chubb from a "buy (b)" rating to a "buy (a)" rating in a research note on Friday, October 16th. Atlantic Securities set a $301.00 price target on shares of Chubb in a report on Wednesday, July 15th. Cantor Fitzgerald reissued a "neutral" rating and set a $333.00 target price on shares of Chubb in a research note on Wednesday, October 21st. Finally, Citigroup reissued a "buy" rating and issued a $405.00 price target (up from $395.00) on shares of Chubb in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of "Hold" and an average target price of $362.78.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.