Chubb Limited $CB Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its holdings in shares of Chubb Limited (NYSE:CB) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,329 shares of the financial services provider’s stock after selling 7,797 shares during the quarter. Allworth Financial LP’s holdings in Chubb were worth $23,623,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. IMG Wealth Management Inc. purchased a new stake in Chubb during the 2nd quarter worth $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the 2nd quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its position in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Chubb during the second quarter worth about $26,000. Finally, Highland Investment Advisors LLC acquired a new position in shares of Chubb during the second quarter worth about $26,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of the business’s 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 owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB traded down $4.79 during trading on Tuesday, reaching $336.81. The stock had a trading volume of 1,617,770 shares, compared to its average volume of 1,737,123. 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 stock has a market cap of $129.94 billion, a PE ratio of 11.91, a P/E/G ratio of 1.63 and a beta of 0.37. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The firm’s 50 day moving average price is $348.24 and its two-hundred day moving average price is $334.58.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same period last year, the business posted $6.14 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts forecast that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a $1.02 dividend. 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 (DPR) is presently 14.43%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CB shares. Evercore reaffirmed an “outperform” rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Barclays set a $387.00 price objective on shares of Chubb in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Atlantic Securities set a $301.00 price objective on Chubb in a research note on Wednesday, July 15th. Finally, Morgan Stanley lifted their price objective on Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $361.00.

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.