Abner Herrman & Brock LLC decreased its position in shares of Chubb Ltd (NYSE:CB) by 13.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,482 shares of the financial services provider’s stock after selling 234 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Chubb were worth $239,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CB. Alpha Cubed Investments LLC raised its position in Chubb by 4.3% during the second quarter. Alpha Cubed Investments LLC now owns 1,708 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 70 shares in the last quarter. Monetary Management Group Inc. raised its position in Chubb by 3.4% during the first quarter. Monetary Management Group Inc. now owns 2,275 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 75 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in Chubb by 2.8% during the second quarter. Flagship Harbor Advisors LLC now owns 2,721 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 75 shares in the last quarter. Torch Wealth Management LLC raised its position in Chubb by 0.5% during the second quarter. Torch Wealth Management LLC now owns 16,148 shares of the financial services provider’s stock valued at $2,378,000 after acquiring an additional 75 shares in the last quarter. Finally, BTR Capital Management Inc. raised its position in Chubb by 5.0% during the second quarter. BTR Capital Management Inc. now owns 1,656 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 79 shares in the last quarter. 89.44% of the stock is owned by hedge funds and other institutional investors.
Shares of CB traded up $0.23 during trading hours on Friday, hitting $155.62. 82,081 shares of the stock were exchanged, compared to its average volume of 1,516,710. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 0.32. Chubb Ltd has a 12-month low of $119.54 and a 12-month high of $162.44. The company has a market cap of $70.86 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.50 and a beta of 0.70. The stock’s 50-day moving average price is $158.28 and its two-hundred day moving average price is $149.56.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The firm had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts expect that Chubb Ltd will post 10.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, September 19th. Chubb’s payout ratio is 31.78%.
In related news, insider John J. Lupica sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $158.15, for a total transaction of $948,900.00. Following the completion of the sale, the insider now directly owns 168,037 shares in the company, valued at $26,575,051.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Bennett Medini sold 2,125 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $153.72, for a total value of $326,655.00. Following the sale, the insider now owns 89,534 shares of the company’s stock, valued at $13,763,166.48. The disclosure for this sale can be found here. Insiders have sold 25,625 shares of company stock valued at $4,037,880 over the last quarter. 0.47% of the stock is owned by company insiders.
A number of analysts have recently commented on CB shares. Wells Fargo & Co boosted their price objective on Chubb from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday. Atlantic Securities cut Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price objective for the company. in a research report on Thursday, June 20th. Barclays set a $185.00 price objective on Chubb and gave the company a “buy” rating in a research report on Monday, August 12th. JMP Securities restated an “outperform” rating on shares of Chubb in a research report on Thursday, July 25th. Finally, ValuEngine cut Chubb from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $153.91.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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