Rhumbline Advisers Has $182.77 Million Position in Chubb Limited (NYSE:CB)

Rhumbline Advisers reduced its stake in Chubb Limited (NYSE:CB) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 716,529 shares of the financial services provider’s stock after selling 7,713 shares during the period. Rhumbline Advisers owned 0.18% of Chubb worth $182,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in shares of Chubb in the first quarter valued at about $25,000. Beacon Capital Management LLC grew its stake in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Chilton Capital Management LLC acquired a new position in shares of Chubb in the second quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb in the fourth quarter valued at about $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of Chubb in the first quarter valued at about $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Up 0.8 %

Shares of NYSE CB opened at $284.18 on Tuesday. The company has a 50 day simple moving average of $266.67 and a 200 day simple moving average of $259.78. The firm has a market cap of $115.39 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. Chubb Limited has a 1 year low of $198.67 and a 1 year high of $284.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

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, beating analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.92 earnings per share. On average, research analysts forecast that Chubb Limited will post 21.2 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Activity at Chubb

In other news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $11,648,059.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Juan Luis Ortega sold 2,400 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders have sold 14,521 shares of company stock worth $3,878,712 over the last ninety days. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley reduced their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Roth Mkm increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $270.79.

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.