Oak Associates Ltd. OH Cuts Holdings in Chubb Limited (NYSE:CB)

Oak Associates Ltd. OH reduced its holdings in Chubb Limited (NYSE:CB) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,886 shares of the financial services provider’s stock after selling 289 shares during the quarter. Chubb comprises 1.2% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 22nd biggest holding. Oak Associates Ltd. OH’s holdings in Chubb were worth $17,827,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC lifted its holdings in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of Chubb in the 1st quarter valued at about $25,000. Chilton Capital Management LLC acquired a new stake in shares of Chubb in the second quarter valued at about $26,000. Wellington Shields Capital Management LLC purchased a new stake in Chubb during the first quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Chubb during the fourth quarter worth about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In related news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares in the company, valued at approximately $12,199,649.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred 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 owns 583,982 shares in the company, valued at approximately $167,748,829.50. The disclosure for this sale can be found here. Insiders have sold a total of 94,836 shares of company stock worth $27,055,900 in the last quarter. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CB shares. JMP Securities lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Bank of America lifted their price objective on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays started coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada increased their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One research 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’s stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average target price of $274.70.

Chubb Stock Performance

Chubb stock opened at $288.87 on Friday. The stock has a fifty day moving average price of $272.40 and a 200 day moving average price of $261.97. Chubb Limited has a 52 week low of $204.15 and a 52 week high of $294.18. The firm has a market capitalization of $116.68 billion, a P/E ratio of 12.82, a PEG 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.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating 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 company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the prior year, the company posted $4.92 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts anticipate that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

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 is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

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.