Vontobel Holding Ltd. Trims Stake in Chubb Limited $CB

Vontobel Holding Ltd. lowered its stake in shares of Chubb Limited (NYSE:CB) by 4.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 65,135 shares of the financial services provider’s stock after selling 2,746 shares during the period. Vontobel Holding Ltd.’s holdings in Chubb were worth $18,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Modern Wealth Management LLC boosted its stake in Chubb by 6.2% during the first quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 143 shares in the last quarter. Jump Financial LLC boosted its stake in Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after acquiring an additional 7,065 shares in the last quarter. Legato Capital Management LLC boosted its stake in Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after acquiring an additional 5,582 shares in the last quarter. Davis Rea LTD. bought a new stake in Chubb during the first quarter worth about $5,117,000. Finally, Country Club Bank boosted its stake in Chubb by 4.8% during the second quarter. Country Club Bank now owns 1,976 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Chubb from $295.00 to $297.00 and gave the stock a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a research note on Wednesday. UBS Group dropped their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Evercore ISI upped their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upped their target price on shares of Chubb from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $306.82.

Chubb Stock Down 1.0%

Shares of Chubb stock opened at $284.13 on Friday. The company has a market cap of $113.28 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 3.23 and a beta of 0.54. The company’s 50 day moving average is $276.36 and its 200 day moving average is $282.07. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.38 earnings per share. Research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

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.