Chubb Limited (NYSE:CB) Position Reduced by Estabrook Capital Management

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Chubb by 4.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 82 shares during the period. Gabelli Funds LLC lifted its position in shares of Chubb by 9.9% in the 2nd quarter. Gabelli Funds LLC now owns 10,005 shares of the financial services provider’s stock worth $2,552,000 after buying an additional 900 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Chubb by 11,560.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 4,081 shares of the financial services provider’s stock valued at $1,041,000 after buying an additional 4,046 shares during the period. ProShare Advisors LLC grew its position in shares of Chubb by 1.0% during the 2nd quarter. ProShare Advisors LLC now owns 789,602 shares of the financial services provider’s stock valued at $201,412,000 after buying an additional 7,440 shares during the last quarter. Finally, Alaethes Wealth LLC raised its stake in Chubb by 2.3% during the second quarter. Alaethes Wealth LLC now owns 7,886 shares of the financial services provider’s stock worth $2,019,000 after acquiring an additional 178 shares during the period. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

NYSE CB opened at $290.66 on Friday. 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 Limited has a 1 year low of $204.15 and a 1 year high of $294.18. The company has a market cap of $118.03 billion, a PE ratio of 12.90, a PEG ratio of 5.59 and a beta of 0.66. The stock’s 50-day moving average price is $275.87 and its two-hundred day moving average price is $263.36.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (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 business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the previous year, the business earned $4.92 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that Chubb Limited will post 21.2 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders 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 1.25%. Chubb’s payout ratio is currently 16.16%.

Insider Transactions at Chubb

In related news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 over the last quarter. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America boosted their price objective on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Barclays initiated coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. JMP Securities boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $274.70.

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.