MassMutual Private Wealth & Trust FSB Sells 3,289 Shares of Chubb Limited $CB

MassMutual Private Wealth & Trust FSB reduced its stake in Chubb Limited (NYSE:CB) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,607 shares of the financial services provider’s stock after selling 3,289 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Chubb were worth $31,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC grew its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 49 shares during the last quarter. Frazier Financial Advisors LLC boosted its stake in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC bought a new position in Chubb in the 1st quarter worth about $29,000. Laurel Wealth Advisors LLC purchased a new stake in Chubb during the 4th quarter valued at about $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in Chubb during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CB. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and raised their price target for the company from $370.00 to $373.00 in a research report on Monday, July 6th. UBS Group upped their price objective on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. BMO Capital Markets increased their target price on Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $360.09.

Chubb Stock Down 0.7%

Shares of CB stock opened at $348.08 on Tuesday. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The stock has a market cap of $134.29 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.74 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $338.73 and a two-hundred day simple moving average of $329.23.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the business earned $6.14 earnings per share. Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that Chubb Limited will post 27.4 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, June 12th. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Chubb Profile

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.