First Quadrant L P CA Lowers Stake in Chubb Ltd (NYSE:CB)

First Quadrant L P CA lowered its position in shares of Chubb Ltd (NYSE:CB) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,760 shares of the financial services provider’s stock after selling 669 shares during the quarter. Chubb accounts for about 0.6% of First Quadrant L P CA’s investment portfolio, making the stock its 26th largest position. First Quadrant L P CA’s holdings in Chubb were worth $8,802,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CB. WCM Investment Management LLC lifted its holdings in shares of Chubb by 100.6% in the first quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock worth $1,966,632,000 after buying an additional 7,040,520 shares in the last quarter. FMR LLC lifted its holdings in shares of Chubb by 0.6% in the first quarter. FMR LLC now owns 11,889,654 shares of the financial services provider’s stock worth $1,665,503,000 after buying an additional 74,295 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chubb by 3.4% in the first quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock worth $869,256,000 after buying an additional 203,528 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chubb by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock worth $726,121,000 after buying an additional 383,344 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Chubb by 1.1% in the first quarter. Northern Trust Corp now owns 5,376,229 shares of the financial services provider’s stock worth $753,101,000 after buying an additional 56,907 shares in the last quarter. 88.98% of the stock is currently owned by institutional investors and hedge funds.

CB traded up $1.11 during trading hours on Friday, hitting $152.27. The company’s stock had a trading volume of 1,815,216 shares, compared to its average volume of 1,448,499. The firm has a 50-day moving average of $149.70. Chubb Ltd has a 12 month low of $119.54 and a 12 month high of $154.26. The firm has a market cap of $68.89 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.02. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The company had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. Chubb’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Chubb Ltd will post 10.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, June 20th. This is a boost from Chubb’s previous quarterly dividend of $0.73. Chubb’s payout ratio is currently 31.78%.

In related news, CEO Evan G. Greenberg sold 215,648 shares of the business’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $148.84, for a total value of $32,097,048.32. Following the sale, the chief executive officer now owns 1,002,730 shares in the company, valued at $149,246,333.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bennett Medini sold 2,750 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $145.52, for a total transaction of $400,180.00. Following the completion of the sale, the chief accounting officer now owns 91,659 shares in the company, valued at approximately $13,338,217.68. The disclosure for this sale can be found here. Insiders sold 340,821 shares of company stock worth $50,608,027 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

CB has been the topic of several research analyst reports. Barclays boosted their target price on shares of Chubb from $160.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Atlantic Securities downgraded shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 target price on the stock. in a report on Thursday, June 20th. Wells Fargo & Co boosted their target price on shares of Chubb from $157.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Raymond James reissued a “strong-buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Chubb in a report on Friday, July 5th. Finally, Morgan Stanley boosted their target price on shares of Chubb from $153.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $150.55.

About Chubb

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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