Schafer Cullen Capital Management Inc grew its position in Chubb Ltd (NYSE:CB) by 24.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,248,171 shares of the financial services provider’s stock after purchasing an additional 248,866 shares during the quarter. Chubb makes up approximately 2.2% of Schafer Cullen Capital Management Inc’s portfolio, making the stock its 14th largest holding. Schafer Cullen Capital Management Inc owned 0.27% of Chubb worth $186,439,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in CB. Mcmillion Capital Management Inc. acquired a new stake in Chubb during the second quarter worth $27,000. JNBA Financial Advisors raised its holdings in shares of Chubb by 223.2% in the second quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Ascent Wealth Partners LLC bought a new position in shares of Chubb in the first quarter valued at about $28,000. Meridian Wealth Management LLC bought a new position in shares of Chubb in the second quarter valued at about $28,000. Finally, QCM Cayman Ltd. raised its holdings in shares of Chubb by 90.5% in the first quarter. QCM Cayman Ltd. now owns 21,359 shares of the financial services provider’s stock valued at $33,000 after buying an additional 10,148 shares during the last quarter. 89.02% of the stock is currently owned by institutional investors.
In related news, CEO Evan G. Greenberg sold 215,648 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total value of $32,097,048.32. Following the completion of the transaction, the chief executive officer now directly owns 1,002,730 shares in the company, valued at approximately $149,246,333.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Paul Bennett Medini sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $145.52, for a total value of $400,180.00. Following the transaction, the chief accounting officer now directly owns 91,659 shares of the company’s stock, valued at approximately $13,338,217.68. The disclosure for this sale can be found here. Insiders sold a total of 343,821 shares of company stock valued at $51,099,287 over the last quarter. 0.47% of the stock is owned by insiders.
Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the firm earned $2.68 EPS. Chubb’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Chubb Ltd will post 10.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.88%. Chubb’s dividend payout ratio is presently 31.78%.
CB has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Chubb from $153.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. ValuEngine cut Chubb from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Atlantic Securities cut Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a report on Thursday, June 20th. Finally, UBS Group lifted their price target on Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $150.55.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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