American Century Companies Inc. Sells 299,041 Shares of Chubb Limited (NYSE:CB)

American Century Companies Inc. trimmed its holdings in Chubb Limited (NYSE:CB) by 74.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,447 shares of the financial services provider’s stock after selling 299,041 shares during the quarter. American Century Companies Inc.’s holdings in Chubb were worth $25,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors increased its stake 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 valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Capital World Investors increased its position in Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Confluence Investment Management LLC bought a new position in Chubb during the 1st quarter valued at approximately $165,932,000. Bank of Nova Scotia raised its stake 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 valued at $176,126,000 after buying an additional 518,535 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Chubb by 14.8% in 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 acquiring an additional 457,881 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. Roth Mkm lifted their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JMP Securities increased their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their price target on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. 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. Based on data from MarketBeat, Chubb has a consensus rating of “Hold” and a consensus price target of $274.70.

Chubb Trading Down 0.6 %

Chubb stock opened at $289.16 on Thursday. Chubb Limited has a 12-month low of $204.15 and a 12-month high of $294.18. The firm has a market capitalization of $117.42 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 5.59 and a beta of 0.66. The firm has a 50 day moving average of $274.57 and a 200 day moving average of $262.77. 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 quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same period in the prior year, the company posted $4.92 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Announces Dividend

The firm 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 dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb’s dividend payout ratio is presently 16.16%.

Insider Activity

In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 $167,748,829.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

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.