Chubb Limited $CB Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,196 shares of the financial services provider’s stock after selling 41 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Chubb were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CB. GQG Partners LLC increased its position in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Chubb during the 1st quarter worth about $562,221,000. Demars Financial Group LLC increased its position in shares of Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the last quarter. Finally, Cohen Investment Advisors LLC increased its position in shares of Chubb by 2,408.4% during the 1st quarter. Cohen Investment Advisors LLC now owns 292,911 shares of the financial services provider’s stock worth $88,456,000 after purchasing an additional 281,234 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on CB shares. Wolfe Research upgraded Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. UBS Group lowered their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. Jefferies Financial Group raised their target price on Chubb from $295.00 to $297.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. 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 report on Monday, October 6th. Finally, HSBC cut Chubb from a “buy” rating to a “hold” rating and lowered their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Chubb has a consensus rating of “Moderate Buy” and an average price target of $306.82.

Insiders Place Their Bets

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

Chubb Stock Performance

Shares of CB opened at $283.08 on Friday. The stock has a 50-day simple moving average of $276.67 and a 200-day simple moving average of $281.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $112.86 billion, a PE ratio of 12.49, a PEG ratio of 3.18 and a beta of 0.54. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91.

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

Chubb Dividend Announcement

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

About Chubb

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.