Axxcess Wealth Management LLC Sells 4,693 Shares of Chubb Limited (NYSE:CB)

Axxcess Wealth Management LLC reduced its holdings in Chubb Limited (NYSE:CB) by 67.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,239 shares of the financial services provider’s stock after selling 4,693 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Chubb were worth $571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Beacon Capital Management LLC increased its position in shares of Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb during the first quarter worth $25,000. Chilton Capital Management LLC acquired a new stake in shares of Chubb during the second quarter worth $26,000. Wellington Shields Capital Management LLC acquired a new stake in Chubb in the first quarter worth $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Chubb in the fourth quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CB. JMP Securities raised their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Bank of America raised their price objective on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays assumed coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $274.70.

Chubb Price Performance

Shares of NYSE:CB opened at $290.71 on Friday. The company has a 50 day moving average of $275.87 and a 200 day moving average of $263.26. The stock has a market cap of $118.05 billion, a P/E ratio of 12.90, a P/E/G ratio of 5.59 and a beta of 0.66. 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.

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

Chubb Announces Dividend

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

Insider Transactions at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’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 transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by insiders.

Chubb 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.