Corient Private Wealth LP Sells 38,782 Shares of Chubb Limited $CB

Corient Private Wealth LP decreased its stake in shares of Chubb Limited (NYSE:CB) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 646,685 shares of the financial services provider’s stock after selling 38,782 shares during the period. Corient Private Wealth LP’s holdings in Chubb were worth $220,365,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CB. California State Teachers Retirement System lifted its stake in Chubb by 32,258.2% during the 2nd quarter. California State Teachers Retirement System now owns 184,618,043 shares of the financial services provider’s stock valued at $62,906,752,000 after acquiring an additional 184,047,499 shares in the last quarter. XXEC Inc. bought a new stake in shares of Chubb in the 2nd quarter worth $228,226,000. Berkshire Hathaway Inc bought a new stake in shares of Chubb in the 2nd quarter worth $11,670,067,000. BlackRock Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $9,913,336,000. Finally, GQG Partners LLC purchased a new stake in shares of Chubb in the second quarter valued at about $4,250,113,000. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other news, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and upped their price objective for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Cantor Fitzgerald increased their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. The Goldman Sachs Group lifted their target price on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings downgraded Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $361.00.

Chubb Trading Up 0.3%

NYSE CB opened at $338.51 on Friday. The stock has a market capitalization of $130.60 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.61 and a beta of 0.37. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The business’s fifty day moving average is $347.43 and its 200-day moving average is $334.75.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.14 EPS. Equities research analysts predict that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s payout ratio is presently 14.43%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.