Chubb Limited (NYSE:CB) Shares Sold by Estabrook Capital Management

Estabrook Capital Management reduced its stake in shares of Chubb Limited (NYSE:CB) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,210 shares of the financial services provider’s stock after selling 595 shares during the period. Chubb makes up about 1.8% of Estabrook Capital Management’s holdings, making the stock its 15th largest position. Estabrook Capital Management’s holdings in Chubb were worth $11,787,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Pathway Financial Advisers LLC acquired a new position in Chubb during the first quarter worth $25,000. Beacon Capital Management LLC raised its stake in shares of Chubb by 76.4% during the 2nd 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 last quarter. Chilton Capital Management LLC purchased a new stake in shares of Chubb in the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb in the 2nd quarter worth about $28,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Chubb in the 4th quarter valued at about $29,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Royal Bank of Canada raised their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Roth Mkm boosted 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. Finally, JMP Securities increased their price objective on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $274.70.

Insider Activity

In related news, EVP Juan Luis Ortega sold 3,921 shares of the company’s 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 directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Juan Luis Ortega sold 3,921 shares of the business’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 transaction of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,636 shares of company stock valued at $24,874,208. Company insiders own 0.86% of the company’s stock.

Chubb Trading Up 0.0 %

Shares of CB opened at $290.66 on Friday. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The firm has a market capitalization of $118.03 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. 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 stock’s fifty day simple moving average is $275.87 and its 200 day simple moving average is $263.36.

Chubb (NYSE:CB) last issued its earnings results 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. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.92 EPS. On average, equities research analysts forecast that Chubb Limited will post 21.2 earnings per share for the current 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 given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s payout ratio is currently 16.16%.

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.