Securian Asset Management Inc. Cuts Holdings in Chubb Limited $CB

Securian Asset Management Inc. reduced its position in Chubb Limited (NYSE:CB) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,406 shares of the financial services provider’s stock after selling 307 shares during the quarter. Securian Asset Management Inc.’s holdings in Chubb were worth $5,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CB. North Capital Inc. acquired a new stake in Chubb in the 1st quarter valued at $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb in the 1st quarter valued at $31,000. 1248 Management LLC acquired a new stake in Chubb in the 1st quarter valued at $31,000. WPG Advisers LLC acquired a new stake in Chubb in the 1st quarter valued at $33,000. Finally, Maseco LLP acquired a new stake in Chubb in the 2nd quarter valued at $35,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Down 0.0%

NYSE:CB opened at $268.16 on Tuesday. The company has a market capitalization of $106.91 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The stock has a 50-day simple moving average of $277.34 and a 200 day simple moving average of $280.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $5.38 earnings per share. Sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is 17.12%.

Insider Buying and Selling

In other news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CB shares. Citigroup assumed coverage on Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target for the company. The Goldman Sachs Group raised their target price on Chubb from $299.00 to $303.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Morgan Stanley lowered their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Finally, Evercore ISI raised their target price on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $305.28.

Chubb Company 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.