Family Legacy Inc. increased its position in Chubb Ltd (NYSE:CB) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,851 shares of the financial services provider’s stock after acquiring an additional 290 shares during the period. Family Legacy Inc.’s holdings in Chubb were worth $567,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in shares of Chubb by 11.6% in the 2nd quarter. Arizona State Retirement System now owns 122,867 shares of the financial services provider’s stock worth $18,097,000 after acquiring an additional 12,815 shares during the period. Hemenway Trust Co LLC increased its holdings in shares of Chubb by 1.0% in the 2nd quarter. Hemenway Trust Co LLC now owns 125,839 shares of the financial services provider’s stock worth $18,535,000 after acquiring an additional 1,211 shares during the period. Manning & Napier Group LLC increased its holdings in shares of Chubb by 1,278.5% in the 2nd quarter. Manning & Napier Group LLC now owns 101,596 shares of the financial services provider’s stock worth $14,963,000 after acquiring an additional 94,226 shares during the period. Claro Advisors LLC increased its holdings in shares of Chubb by 2.0% in the 2nd quarter. Claro Advisors LLC now owns 4,486 shares of the financial services provider’s stock worth $661,000 after acquiring an additional 87 shares during the period. Finally, Artemis Investment Management LLP increased its holdings in shares of Chubb by 30.1% in the 2nd quarter. Artemis Investment Management LLP now owns 81,995 shares of the financial services provider’s stock worth $12,062,000 after acquiring an additional 18,952 shares during the period. 89.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider John J. Lupica sold 10,400 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $146.37, for a total transaction of $1,522,248.00. Following the completion of the transaction, the insider now owns 174,037 shares in the company, valued at approximately $25,473,795.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael G. Atieh sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $141.87, for a total transaction of $283,740.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,821 shares of company stock valued at $50,608,027. Insiders own 0.47% of the company’s stock.
Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.58 by $0.02. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.65 billion. Chubb had a net margin of 11.00% and a return on equity of 8.53%. Chubb’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, research analysts anticipate that Chubb Ltd will post 10.39 earnings per share for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, June 20th. This is a positive change from Chubb’s previous quarterly dividend of $0.73. Chubb’s dividend payout ratio is currently 31.78%.
A number of research firms recently weighed in on CB. ValuEngine cut shares of Chubb from a “buy” rating to a “hold” rating in a report on Thursday. Barclays increased their target price on shares of Chubb from $160.00 to $167.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Atlantic Securities lowered shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a research report on Thursday, June 20th. Finally, JMP Securities reiterated an “outperform” rating on shares of Chubb in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $150.55.
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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