Intech Investment Management LLC Cuts Stock Position in Chubb Limited (NYSE:CB)

Intech Investment Management LLC lowered its holdings in Chubb Limited (NYSE:CB) by 70.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,142 shares of the financial services provider’s stock after selling 26,413 shares during the period. Intech Investment Management LLC’s holdings in Chubb were worth $2,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Nicolet Advisory Services LLC boosted its position in Chubb by 9.9% in the first quarter. Nicolet Advisory Services LLC now owns 1,220 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 110 shares during the last quarter. First Foundation Advisors raised its stake in shares of Chubb by 70.9% in the first quarter. First Foundation Advisors now owns 552 shares of the financial services provider’s stock valued at $143,000 after buying an additional 229 shares during the period. Councilmark Asset Management LLC bought a new stake in shares of Chubb in the first quarter valued at $359,000. Mizuho Markets Americas LLC raised its stake in shares of Chubb by 93.7% in the first quarter. Mizuho Markets Americas LLC now owns 41,437 shares of the financial services provider’s stock valued at $10,738,000 after buying an additional 20,045 shares during the period. Finally, Sentry Investment Management LLC raised its stake in shares of Chubb by 11.4% in the first quarter. Sentry Investment Management LLC now owns 2,387 shares of the financial services provider’s stock valued at $619,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In related news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $11,648,059.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. In the last three months, insiders sold 47,552 shares of company stock worth $12,149,985. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Shares of CB traded down $7.79 during midday trading on Friday, reaching $259.88. The stock had a trading volume of 2,759,519 shares, compared to its average volume of 1,292,853. The company’s 50-day moving average is $261.69 and its 200 day moving average is $252.32. Chubb Limited has a 12-month low of $194.37 and a 12-month high of $275.41. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $105.53 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 6.09 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the prior year, the business earned $4.41 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Chubb Limited will post 20.93 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a $0.91 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, June 14th. Chubb’s dividend payout ratio is presently 16.16%.

Analyst Ratings Changes

Several brokerages have issued reports on CB. William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. The Goldman Sachs Group boosted their target price on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Roth Mkm reiterated a “buy” rating and set a $280.00 price objective on shares of Chubb in a research note on Wednesday, April 24th. Morgan Stanley decreased their price objective 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. Finally, Evercore ISI boosted their price objective on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. One 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 given a strong buy rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $267.65.

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.