Advisors Asset Management Inc. Sells 4,989 Shares of Chubb Limited (NYSE:CB)

Advisors Asset Management Inc. trimmed its holdings in Chubb Limited (NYSE:CB) by 29.2% during the first quarter, Holdings Channel reports. The firm owned 12,109 shares of the financial services provider’s stock after selling 4,989 shares during the quarter. Advisors Asset Management Inc.’s holdings in Chubb were worth $3,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bard Financial Services Inc. grew its position in Chubb by 3.7% in the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares during the period. Rossmore Private Capital grew its holdings in shares of Chubb by 1.6% during the fourth quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after buying an additional 41 shares during the last quarter. Equitable Trust Co. increased its position in shares of Chubb by 1.4% during the first quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 41 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Chubb by 4.2% in the 4th quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 42 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position in Chubb by 11.1% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 422 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. The Goldman Sachs Group raised their price objective on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods cut their price target on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. JMP Securities boosted their price objective on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $270.05.

Chubb Price Performance

NYSE CB traded up $8.67 during trading on Friday, reaching $270.28. The company’s stock had a trading volume of 1,653,070 shares, compared to its average volume of 1,651,234. The firm has a fifty day moving average of $262.11 and a 200 day moving average of $253.11. Chubb Limited has a one year low of $198.10 and a one year high of $275.41. The stock has a market capitalization of $109.75 billion, a PE ratio of 11.61, a P/E/G ratio of 6.08 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.36 and a quick ratio of 0.29.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. During the same period in the prior year, the business earned $4.92 earnings per share. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts expect that Chubb Limited will post 20.97 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, June 14th. Chubb’s payout ratio is currently 16.16%.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares in the company, valued at approximately $71,596,589.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,552 shares of company stock worth $12,149,985. Corporate insiders own 0.86% of the company’s stock.

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.