Wambolt & Associates LLC Cuts Stock Holdings in Chubb Limited (NYSE:CB)

Wambolt & Associates LLC decreased its holdings in shares of Chubb Limited (NYSE:CB) by 11.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,726 shares of the financial services provider’s stock after selling 215 shares during the period. Wambolt & Associates LLC’s holdings in Chubb were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CB. E Fund Management Co. Ltd. purchased a new position in Chubb during the 1st quarter valued at about $125,000. Moors & Cabot Inc. increased its position in Chubb by 6.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,370 shares of the financial services provider’s stock valued at $1,165,000 after purchasing an additional 425 shares during the period. Haverford Trust Co. increased its position in Chubb by 1.5% during the 1st quarter. Haverford Trust Co. now owns 12,079 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 180 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Chubb by 70.2% in the 1st quarter. Cresset Asset Management LLC now owns 9,601 shares of the financial services provider’s stock valued at $1,523,000 after buying an additional 3,961 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Chubb by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,090,606 shares of the financial services provider’s stock worth $1,117,020,000 after acquiring an additional 139,461 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on CB shares. William Blair reaffirmed a “market perform” rating on shares of Chubb in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chubb from $142.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 12th. Wolfe Research started coverage on shares of Chubb in a report on Monday, August 16th. They set an “outperform” rating and a $231.00 price objective on the stock. Zacks Investment Research lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $185.00 price objective on the stock. in a report on Tuesday, September 28th. Finally, boosted their target price on shares of Chubb from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chubb currently has an average rating of “Buy” and a consensus price target of $180.56.

In other news, Director Michael G. Atieh sold 2,944 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $186.20, for a total value of $548,172.80. Following the transaction, the director now directly owns 37,556 shares in the company, valued at approximately $6,992,927.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 30,000 shares of the stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $186.61, for a total transaction of $5,598,300.00. Following the sale, the executive vice president now owns 144,197 shares in the company, valued at $26,908,602.17. The disclosure for this sale can be found here. In the last three months, insiders sold 59,188 shares of company stock valued at $10,920,772. Corporate insiders own 0.41% of the company’s stock.

Shares of NYSE CB opened at $182.24 on Thursday. Chubb Limited has a 12-month low of $116.50 and a 12-month high of $187.90. The stock has a market cap of $79.96 billion, a PE ratio of 10.07, a P/E/G ratio of 1.45 and a beta of 0.73. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $180.65 and a 200 day moving average of $170.78.

Chubb (NYSE:CB) last announced its quarterly earnings data on Monday, July 26th. The financial services provider reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.61. Chubb had a net margin of 20.42% and a return on equity of 8.70%. The company had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the company earned ($0.56) EPS. Chubb’s revenue was up 23.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 12.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 17th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, September 16th. This represents a $3.20 annualized dividend and a dividend yield of 1.76%. Chubb’s dividend payout ratio (DPR) is 43.78%.

Chubb announced that its board has initiated a share buyback program on Monday, July 19th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Chubb Company Profile

Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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