Chubb Limited (NYSE:CB) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in shares of Chubb Limited (NYSE:CB) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,979 shares of the financial services provider’s stock after selling 166 shares during the quarter. King Luther Capital Management Corp’s holdings in Chubb were worth $1,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $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 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Chubb in the 1st quarter valued at approximately $165,932,000. Bank of Nova Scotia raised its position in shares of Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquiring an additional 518,535 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Up 0.0 %

Shares of CB stock opened at $290.66 on Friday. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The business’s fifty day moving average is $275.87 and its 200-day moving average is $263.36. The stock has a market cap of $118.03 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66.

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

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders 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 annualized dividend and a dividend yield of 1.25%. Chubb’s dividend payout ratio is currently 16.16%.

Insider Activity

In related news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,636 shares of company stock worth $24,874,208. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CB shares. Barclays initiated coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Bank of America lifted their target price on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods upped their target price on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Roth Mkm raised their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $274.70.

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.