Waverly Advisors LLC Lowers Position in Chubb Limited $CB

Waverly Advisors LLC cut its position in shares of Chubb Limited (NYSE:CB) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,531 shares of the financial services provider’s stock after selling 1,672 shares during the quarter. Waverly Advisors LLC’s holdings in Chubb were worth $8,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in shares of Chubb during the 2nd quarter valued at $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb in the 2nd quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Chubb in the 2nd quarter worth about $26,000. Finally, Highland Investment Advisors LLC purchased a new position in Chubb during the 2nd quarter valued at about $26,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

CB stock opened at $337.59 on Thursday. The stock’s 50 day simple moving average is $347.88 and its 200 day simple moving average is $334.70. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The stock has a market capitalization of $130.24 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.37.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the company earned $6.14 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup restated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Mizuho raised their price objective on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Atlantic Securities set a $301.00 target price on Chubb in a report on Wednesday, July 15th. UBS Group raised their price target on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $361.00.

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.