Tower Research Capital LLC TRC Trims Stock Position in Chubb Ltd (NYSE:CB)

Tower Research Capital LLC TRC lowered its holdings in shares of Chubb Ltd (NYSE:CB) by 68.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,024 shares of the financial services provider’s stock after selling 4,429 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Chubb were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Athena Capital Advisors LLC purchased a new stake in shares of Chubb during the 2nd quarter valued at about $784,000. CWM LLC increased its position in shares of Chubb by 57.8% during the 2nd quarter. CWM LLC now owns 35,188 shares of the financial services provider’s stock valued at $5,183,000 after purchasing an additional 12,887 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chubb by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,965,673 shares of the financial services provider’s stock valued at $289,524,000 after purchasing an additional 46,934 shares during the last quarter. Price Wealth Management Inc. increased its position in shares of Chubb by 10.3% during the 2nd quarter. Price Wealth Management Inc. now owns 5,215 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 485 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Chubb by 19.0% during the 2nd quarter. King Luther Capital Management Corp now owns 10,933 shares of the financial services provider’s stock valued at $1,610,000 after purchasing an additional 1,742 shares during the last quarter. 89.51% of the stock is owned by hedge funds and other institutional investors.

In other Chubb news, insider Paul J. Krump sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $155.00, for a total value of $775,000.00. Following the completion of the transaction, the insider now directly owns 118,865 shares in the company, valued at approximately $18,424,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul J. Krump sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $160.00, for a total value of $960,000.00. Following the completion of the transaction, the insider now owns 112,865 shares of the company’s stock, valued at $18,058,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,125 shares of company stock valued at $3,010,555. 0.47% of the stock is currently owned by corporate insiders.

Shares of NYSE:CB traded down $0.82 during mid-day trading on Friday, reaching $157.68. 2,008,920 shares of the company traded hands, compared to its average volume of 1,354,029. The company’s 50 day moving average price is $156.55 and its 200-day moving average price is $147.10. The firm has a market cap of $72.69 billion, a PE ratio of 16.70, a PEG ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.32 and a quick ratio of 0.32. Chubb Ltd has a 52 week low of $119.54 and a 52 week high of $162.19.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.58 by $0.02. The company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.65 billion. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 EPS. On average, research analysts predict that Chubb Ltd will post 10.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.90%. Chubb’s dividend payout ratio (DPR) is presently 31.78%.

Several equities research analysts have recently commented on CB shares. Barclays set a $185.00 price target on shares of Chubb and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine lowered shares of Chubb from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Compass Point lowered shares of Chubb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Raymond James reaffirmed a “strong-buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Chubb in a research report on Friday, July 5th. Finally, Wells Fargo & Co upped their price target on shares of Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Chubb has an average rating of “Hold” and a consensus price target of $153.00.

About Chubb

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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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