Prime Capital Investment Advisors LLC Cuts Stock Position in Chubb Limited (NYSE:CB)

Prime Capital Investment Advisors LLC lessened its holdings in Chubb Limited (NYSE:CB) by 10.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,590 shares of the financial services provider’s stock after selling 1,051 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Chubb were worth $2,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CB. Hanson & Doremus Investment Management grew its position in shares of Chubb by 7.3% during the second quarter. Hanson & Doremus Investment Management now owns 12,357 shares of the financial services provider’s stock valued at $3,152,000 after purchasing an additional 841 shares in the last quarter. Wilkins Investment Counsel Inc. grew its position in shares of Chubb by 1.1% during the second quarter. Wilkins Investment Counsel Inc. now owns 83,336 shares of the financial services provider’s stock valued at $21,257,000 after purchasing an additional 888 shares in the last quarter. Williams Financial LLC purchased a new position in shares of Chubb during the second quarter valued at about $301,000. J.W. Cole Advisors Inc. grew its position in shares of Chubb by 195.3% during the second quarter. J.W. Cole Advisors Inc. now owns 8,055 shares of the financial services provider’s stock valued at $2,055,000 after purchasing an additional 5,327 shares in the last quarter. Finally, Prosperity Consulting Group LLC grew its position in Chubb by 7.2% in the second quarter. Prosperity Consulting Group LLC now owns 995 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.8 %

CB opened at $291.32 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $273.16 and its two-hundred day moving average is $262.30. The company has a market capitalization of $118.29 billion, a P/E ratio of 12.93, a PEG ratio of 5.59 and a beta of 0.66. Chubb Limited has a 52 week low of $204.15 and a 52 week high of $294.18.

Chubb (NYSE:CB) last posted its quarterly 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. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the prior year, the company earned $4.92 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. Analysts forecast that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,836 shares of company stock valued at $27,055,900. 0.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on CB shares. 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 report on Thursday, July 11th. Morgan Stanley dropped their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America lifted their price target on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lifted 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. Finally, William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $274.70.

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.