Chubb Limited $CB Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its holdings in shares of Chubb Limited (NYSE:CB) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 548,325 shares of the financial services provider’s stock after selling 9,806 shares during the quarter. Chubb accounts for approximately 2.2% of Confluence Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Confluence Investment Management LLC’s holdings in Chubb were worth $158,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Chubb during the 4th quarter worth about $205,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Chubb in the fourth quarter worth approximately $1,320,000. Janus Henderson Group PLC grew its holdings in Chubb by 21.6% in the fourth quarter. Janus Henderson Group PLC now owns 85,112 shares of the financial services provider’s stock valued at $23,521,000 after purchasing an additional 15,127 shares during the period. Finally, NorthRock Partners LLC grew its holdings in Chubb by 145.0% in the fourth quarter. NorthRock Partners LLC now owns 3,055 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 1,808 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. UBS Group dropped their price objective on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. HSBC lowered Chubb from a “buy” rating to a “hold” rating and cut their target price for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Cantor Fitzgerald raised Chubb to a “hold” rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company dropped their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $302.00.

Chubb Price Performance

Shares of NYSE CB opened at $278.02 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a market capitalization of $110.84 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 3.19 and a beta of 0.56. The business has a 50-day moving average of $274.38 and a 200-day moving average of $283.34.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $5.38 EPS. On average, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s payout ratio is presently 17.12%.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.