Headlands Technologies LLC Trims Stake in Chubb Limited $CB

Headlands Technologies LLC lessened its position in Chubb Limited (NYSE:CB) by 36.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,961 shares of the financial services provider’s stock after selling 3,393 shares during the quarter. Headlands Technologies LLC’s holdings in Chubb were worth $2,031,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC grew its stake in shares of Chubb by 96.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 205,672 shares of the financial services provider’s stock valued at $70,081,000 after buying an additional 101,143 shares during the last quarter. Sigma Planning Corp boosted its holdings in Chubb by 5.3% during the 2nd quarter. Sigma Planning Corp now owns 3,722 shares of the financial services provider’s stock valued at $1,268,000 after acquiring an additional 187 shares during the period. Alyeska Investment Group L.P. grew its position in Chubb by 2,128.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 135,906 shares of the financial services provider’s stock valued at $46,309,000 after acquiring an additional 129,807 shares during the last quarter. Flputnam Investment Management Co. grew its position in Chubb by 2.8% in the 2nd quarter. Flputnam Investment Management Co. now owns 24,341 shares of the financial services provider’s stock valued at $8,294,000 after acquiring an additional 672 shares during the last quarter. Finally, Nichols & Pratt Advisers LLP MA increased its stake in Chubb by 2.8% in the second quarter. Nichols & Pratt Advisers LLP MA now owns 6,005 shares of the financial services provider’s stock worth $2,046,000 after purchasing an additional 164 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The shares were 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 of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. Weiss Ratings downgraded Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. UBS Group boosted their price objective on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald upped their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Evercore reaffirmed an “outperform” rating and set a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $361.00.

Chubb Price Performance

NYSE CB opened at $339.30 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50 day moving average price is $347.74 and its 200-day moving average price is $334.12. 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 $130.90 billion, a PE ratio of 12.00, a P/E/G ratio of 1.66 and a beta of 0.39.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.14 earnings per share. Sell-side analysts forecast that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio is 14.43%.

About Chubb

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.