ASB Consultores LLC Cuts Stock Holdings in Chubb Limited (NYSE:CB)

ASB Consultores LLC trimmed its position in shares of Chubb Limited (NYSE:CB) by 46.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,899 shares of the financial services provider’s stock after selling 1,649 shares during the quarter. ASB Consultores LLC’s holdings in Chubb were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC purchased a new position in Chubb during the 2nd quarter worth $963,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Chubb by 16.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after purchasing an additional 10,745 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Chubb during the 1st quarter worth $984,000. Sierra Summit Advisors LLC bought a new stake in shares of Chubb during the 4th quarter worth $844,000. Finally, Leuthold Group LLC bought a new stake in shares of Chubb during the 1st quarter worth $3,033,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 0.5 %

Shares of NYSE CB opened at $290.58 on Friday. Chubb Limited has a 12 month low of $204.15 and a 12 month high of $294.18. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $117.99 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 5.59 and a beta of 0.66. The business has a 50-day moving average of $275.22 and a 200-day moving average of $262.97.

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

Chubb Announces Dividend

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

Insiders Place Their Bets

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chubb news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 over the last quarter. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CB has been the topic of a number of recent analyst reports. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Morgan Stanley lowered their target price on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada boosted their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $274.70.

Chubb Company Profile

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.