UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,720,634 Shares of Chubb Limited $CB

Key Points

• UBS Asset Management reduced its Chubb stake by 79.8% in the second quarter, selling 2.72 million shares and retaining 689,209 shares valued at approximately $234.8 million. Institutional investors still own 83.81% of Chubb.
• Chubb reported quarterly adjusted earnings of $7.26 per share, exceeding analyst expectations of $6.77, while revenue rose 3.6% year over year to $11.97 billion.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 dividend and a 1.2% yield. Analysts’ consensus rating is “Hold,” with an average price target of $361.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 79.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 689,209 shares of the financial services provider's stock after selling 2,720,634 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Chubb worth $234,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CB. IMG Wealth Management Inc. acquired a new position in shares of Chubb during the 2nd quarter valued at $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the second quarter worth $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares during the period. Parvin Asset Management LLC bought a new stake in Chubb in the second quarter valued at $26,000. Finally, Frazier Financial Advisors LLC increased its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Chubb

In other news, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction on Friday, August 21st. The stock was 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 directly owned 12,803 shares of the company's stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Chubb Stock Down 0.2%

Shares of NYSE:CB opened at $339.30 on Tuesday. The business's 50 day moving average is $347.74 and its 200 day moving average is $334.12. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The stock has a market cap 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 quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results 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. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same period in the prior year, the firm posted $6.14 EPS. Chubb's quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 27.35 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 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. 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 is 14.43%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 23rd. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. Cantor Fitzgerald increased their price target on Chubb from $318.00 to $337.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Citigroup reissued a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Evercore restated an "outperform" rating and set a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $361.00.

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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