Assenagon Asset Management S.A. Reduces Stock Holdings in Chubb Limited (NYSE:CB)

Assenagon Asset Management S.A. reduced its stake in shares of Chubb Limited (NYSE:CB) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,132 shares of the financial services provider’s stock after selling 1,702 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Chubb were worth $4,625,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Chubb during the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Chubb during the first quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb during the fourth quarter valued at $29,000. Eagle Bay Advisors LLC increased its holdings in shares of Chubb by 82.2% during the first quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 60 shares during the period. Finally, Bank & Trust Co acquired a new position in shares of Chubb during the second quarter valued at $35,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter C. Enns sold 8,200 shares of the firm’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 directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juan Luis Ortega sold 2,400 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Chubb Trading Up 0.3 %

NYSE:CB opened at $273.41 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $198.10 and a 1-year high of $277.91. The firm has a market capitalization of $111.02 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 5.21 and a beta of 0.66. The stock has a fifty day simple moving average of $263.72 and a 200 day simple moving average of $257.48.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 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 firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same period last year, the company posted $4.92 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that Chubb Limited will post 21.15 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. Shareholders of record on Friday, September 13th will be given 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 1.33%. Chubb’s payout ratio is presently 16.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Roth Mkm raised their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their price target on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Finally, JMP Securities raised their target price 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 investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $270.79.

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.