Chubb Limited (NYSE:CB) Shares Sold by Oak Thistle LLC

Oak Thistle LLC cut its holdings in Chubb Limited (NYSE:CB) by 26.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,077 shares of the financial services provider’s stock after selling 379 shares during the quarter. Oak Thistle LLC’s holdings in Chubb were worth $275,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CB. Norges Bank acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $957,756,000. Capital Research Global Investors grew its position in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. Capital World Investors grew its position in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Chubb during the first quarter worth approximately $165,932,000. Finally, Bank of Nova Scotia boosted its position in Chubb by 198.8% during the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after acquiring an additional 518,535 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CB has been the topic of a number of analyst reports. Roth Mkm raised their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America raised their target price on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley cut their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average target price of $274.70.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The disclosure for this sale can be found here. Insiders sold a total of 94,836 shares of company stock valued at $27,055,900 in the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Chubb stock opened at $291.03 on Wednesday. Chubb Limited has a 12-month low of $204.15 and a 12-month high of $294.18. The company has a market capitalization of $117.56 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 5.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s fifty day moving average price is $270.37 and its 200 day moving average price is $261.33.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.92 EPS. On average, research analysts forecast that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.