Rathbones Group PLC Sells 52,294 Shares of Chubb Limited $CB

Key Points

• Rathbones Group reduced its Chubb stake by 15.7% in the first quarter, selling 52,294 shares and retaining 280,347 shares valued at approximately $91.4 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly earnings of $7.26 per share, exceeding analyst expectations of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company also increased its quarterly dividend from $0.97 to $1.02 per share.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $360.09. Chubb shares opened at $351.08, near their 52-week high of $365.91.

Rathbones Group PLC decreased its holdings in Chubb Limited (NYSE:CB - Free Report) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,347 shares of the financial services provider's stock after selling 52,294 shares during the period. Rathbones Group PLC owned 0.07% of Chubb worth $91,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CB. Janney Montgomery Scott LLC raised its position in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after buying an additional 5,225 shares during the last quarter. waypoint wealth counsel grew its holdings in Chubb by 76.4% in the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after purchasing an additional 1,784 shares during the period. National Pension Service grew its holdings in Chubb by 24.4% in the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider's stock valued at $358,462,000 after purchasing an additional 225,515 shares during the period. Harbour Investments Inc. lifted its holdings in Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 8,947 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in Chubb by 133.1% in the 4th quarter. Private Trust Co. NA now owns 11,464 shares of the financial services provider's stock worth $3,578,000 after buying an additional 6,546 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 23,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the business's stock in a transaction on 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 directly owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Morgan Stanley upped their price objective on shares of Chubb from $330.00 to $340.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Bank of America decreased their price objective on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. Finally, BMO Capital Markets upped their price objective on Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of "Hold" and a consensus target price of $360.09.

Chubb Trading Up 0.1%

Shares of Chubb stock opened at $351.08 on Monday. 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 1 year low of $264.10 and a 1 year high of $365.91. The company's fifty day moving average is $338.33 and its two-hundred day moving average is $328.89. The company has a market capitalization of $135.45 billion, a P/E ratio of 12.42, a PEG ratio of 1.74 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the company earned $6.14 earnings per share. The company's revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that Chubb Limited will post 27.4 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, June 12th. This is an increase from Chubb's previous quarterly dividend of $0.97. Chubb's payout ratio is presently 14.43%.

About Chubb

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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