Benjamin Edwards Inc. Cuts Position in Chubb Limited $CB

Benjamin Edwards Inc. decreased its holdings in Chubb Limited (NYSE:CB) by 6.1% in the second quarter, HoldingsChannel.com reports. The firm owned 34,686 shares of the financial services provider’s stock after selling 2,242 shares during the quarter. Benjamin Edwards Inc.’s holdings in Chubb were worth $11,821,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Alyeska Investment Group L.P. increased its holdings in Chubb by 2,128.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 135,906 shares of the financial services provider’s stock worth $46,309,000 after acquiring an additional 129,807 shares in the last quarter. Flputnam Investment Management Co. raised its position in shares of Chubb by 2.8% during the 2nd quarter. Flputnam Investment Management Co. now owns 24,341 shares of the financial services provider’s stock worth $8,294,000 after purchasing an additional 672 shares during the last quarter. Nichols & Pratt Advisers LLP MA lifted its stake in Chubb by 2.8% in the 2nd quarter. Nichols & Pratt Advisers LLP MA now owns 6,005 shares of the financial services provider’s stock valued at $2,046,000 after buying an additional 164 shares in the last quarter. Cullinan Associates Inc. boosted its holdings in Chubb by 5.7% in the 2nd quarter. Cullinan Associates Inc. now owns 932 shares of the financial services provider’s stock worth $318,000 after buying an additional 50 shares during the last quarter. Finally, Greenleaf Trust boosted its holdings in Chubb by 1.3% in the 2nd quarter. Greenleaf Trust now owns 14,221 shares of the financial services provider’s stock worth $4,846,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group increased their target price on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Morgan Stanley increased their price objective on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Atlantic Securities set a $301.00 target price on shares of Chubb in a report on Wednesday, July 15th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and increased their target price for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Finally, Mizuho raised their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Price Performance

NYSE:CB opened at $340.34 on Monday. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The stock’s fifty day moving average is $347.46 and its two-hundred day moving average is $334.02. The company has a market capitalization of $131.30 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.66 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $6.14 EPS. Equities analysts expect that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

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

Insider Buying and Selling

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

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.