Chubb Limited $CB Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas cut its stake in shares of Chubb Limited (NYSE:CB) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 151,975 shares of the financial services provider’s stock after selling 3,590 shares during the quarter. Chubb comprises 2.5% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 14th biggest position. Smith Chas P & Associates PA Cpas’ holdings in Chubb were worth $51,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CB. IMG Wealth Management Inc. purchased a new stake in shares of Chubb during the second quarter valued at $25,000. Dunhill Financial LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $25,000. Parvin Asset Management LLC purchased a new position in Chubb in the 2nd quarter worth about $26,000. Highland Investment Advisors LLC purchased a new position in Chubb in the 2nd quarter worth about $26,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was 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 directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Connors sold 5,500 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the sale, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Chubb Stock Down 0.1%

CB traded down $0.19 on Friday, reaching $338.48. 1,151,251 shares of the company traded hands, compared to its average volume of 1,727,894. The stock’s 50 day moving average price is $347.43 and its 200-day moving average price is $334.75. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The company has a market cap of $130.59 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.61 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last released its earnings results 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. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the firm earned $6.14 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid 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 dividend yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group boosted their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Weiss Ratings downgraded shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $361.00.

Chubb Company 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.