Westwood Holdings Group Inc. lowered its holdings in shares of Chubb Ltd (NYSE:CB) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 978,749 shares of the financial services provider’s stock after selling 257,110 shares during the quarter. Chubb accounts for about 1.6% of Westwood Holdings Group Inc.’s portfolio, making the stock its 7th largest position. Westwood Holdings Group Inc.’s holdings in Chubb were worth $144,159,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Mcmillion Capital Management Inc. bought a new stake in shares of Chubb in the 2nd quarter valued at about $27,000. JNBA Financial Advisors boosted its holdings in shares of Chubb by 223.2% in the 2nd quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. Ascent Wealth Partners LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $28,000. Meridian Wealth Management LLC bought a new stake in shares of Chubb in the 2nd quarter valued at about $28,000. Finally, QCM Cayman Ltd. boosted its holdings in shares of Chubb by 90.5% in the 1st quarter. QCM Cayman Ltd. now owns 21,359 shares of the financial services provider’s stock valued at $33,000 after buying an additional 10,148 shares in the last quarter. Institutional investors and hedge funds own 89.51% of the company’s stock.
CB remained flat at $$158.50 during trading on Friday. 1,148,639 shares of the company’s stock were exchanged, compared to its average volume of 1,338,512. Chubb Ltd has a 12 month low of $119.54 and a 12 month high of $162.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $72.24 billion, a PE ratio of 16.79, a P/E/G ratio of 1.54 and a beta of 0.70. The stock has a 50-day moving average of $156.45 and a two-hundred day moving average of $146.98.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 19th. Chubb’s dividend payout ratio is presently 31.78%.
A number of analysts recently commented on CB shares. Wells Fargo & Co lifted their target price on shares of Chubb from $157.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Compass Point cut shares of Chubb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $165.00 to $156.00 in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Atlantic Securities cut shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a research note on Thursday, June 20th. JMP Securities reiterated an “outperform” rating on shares of Chubb in a research note on Thursday, July 25th. Finally, Barclays set a $185.00 target price on shares of Chubb and gave the stock a “buy” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chubb has an average rating of “Hold” and an average price target of $153.00.
In other Chubb news, insider Paul J. Krump sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $155.00, for a total transaction of $775,000.00. Following the completion of the transaction, the insider now directly owns 118,865 shares of the company’s stock, valued at approximately $18,424,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John J. Lupica sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $158.15, for a total transaction of $948,900.00. Following the transaction, the insider now directly owns 168,037 shares of the company’s stock, valued at $26,575,051.55. The disclosure for this sale can be found here. Insiders have sold a total of 19,125 shares of company stock valued at $3,010,555 over the last three months. 0.47% of the stock is currently owned by insiders.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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