Swiss National Bank Trims Stock Position in Chubb Ltd (NYSE:CB)

Swiss National Bank cut its stake in shares of Chubb Ltd (NYSE:CB) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,694,320 shares of the financial services provider’s stock after selling 47,500 shares during the period. Swiss National Bank owned approximately 0.37% of Chubb worth $249,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JNBA Financial Advisors raised its stake in Chubb by 223.2% during the 2nd quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 125 shares during the last quarter. Mcmillion Capital Management Inc. purchased a new position in shares of Chubb during the 2nd quarter worth approximately $27,000. Meridian Wealth Management LLC purchased a new position in shares of Chubb during the 2nd quarter worth approximately $28,000. Ascent Wealth Partners LLC purchased a new position in shares of Chubb during the 1st quarter worth approximately $28,000. Finally, Winslow Evans & Crocker Inc. raised its stake in shares of Chubb by 2,233.3% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 280 shares of the financial services provider’s stock worth $40,000 after buying an additional 268 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

NYSE:CB traded up $1.68 during trading hours on Friday, reaching $155.61. 448,012 shares of the company traded hands, compared to its average volume of 1,792,055. The firm’s 50-day moving average is $151.18 and its 200-day moving average is $143.05. The stock has a market cap of $72.39 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.32 and a quick ratio of 0.32. Chubb Ltd has a 1-year low of $119.54 and a 1-year high of $160.23.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The business had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts predict that Chubb Ltd will post 10.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, September 19th. Chubb’s dividend payout ratio (DPR) is 31.78%.

A number of brokerages have recently issued reports on CB. Wells Fargo & Co increased their target price on Chubb from $157.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. UBS Group increased their target price on Chubb from $156.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Barclays set a $185.00 target price on Chubb and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley increased their target price on Chubb from $154.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Raymond James restated a “strong-buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Chubb in a report on Friday, July 5th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $153.00.

In related news, insider John J. Lupica sold 10,400 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $146.37, for a total value of $1,522,248.00. Following the transaction, the insider now directly owns 174,037 shares of the company’s stock, valued at approximately $25,473,795.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 215,648 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total value of $32,097,048.32. Following the completion of the transaction, the chief executive officer now directly owns 1,002,730 shares in the company, valued at $149,246,333.20. The disclosure for this sale can be found here. Insiders have sold 355,821 shares of company stock worth $53,008,187 in the last 90 days. Insiders own 0.47% of the company’s stock.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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