Park Avenue Securities LLC Increases Position in Chubb Ltd (NYSE:CB)

Park Avenue Securities LLC grew its stake in Chubb Ltd (NYSE:CB) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,291 shares of the financial services provider’s stock after acquiring an additional 831 shares during the quarter. Park Avenue Securities LLC’s holdings in Chubb were worth $1,368,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mcmillion Capital Management Inc. acquired a new stake in shares of Chubb in the 2nd quarter worth $27,000. Ascent Wealth Partners LLC acquired a new stake in shares of Chubb in the 1st quarter worth $28,000. Meridian Wealth Management LLC acquired a new stake in shares of Chubb in the 2nd quarter worth $28,000. Sageworth Trust Co acquired a new stake in shares of Chubb in the 1st quarter worth $29,000. Finally, QCM Cayman Ltd. boosted its position in shares of Chubb by 90.5% in the 1st quarter. QCM Cayman Ltd. now owns 21,359 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 10,148 shares in the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.

CB has been the subject of a number of recent analyst reports. Compass Point cut Chubb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Atlantic Securities cut Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a research report on Thursday, June 20th. Morgan Stanley lifted their price target on Chubb from $153.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wells Fargo & Co lifted their price target on Chubb from $157.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $150.55.

CB traded up $2.97 on Tuesday, reaching $151.46. 1,097,309 shares of the stock were exchanged, compared to its average volume of 1,486,709. The firm’s 50-day moving average is $149.78. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $154.26. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $67.76 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.47 and a beta of 0.72.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 EPS for the quarter, topping the Zacks’ 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 company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Chubb Ltd will post 10.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 21st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, June 20th. This is a boost from Chubb’s previous quarterly dividend of $0.73. Chubb’s payout ratio is 31.78%.

In other news, CEO Evan G. Greenberg sold 215,648 shares of the business’s stock in a transaction dated 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 owns 1,002,730 shares of the company’s stock, valued at approximately $149,246,333.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bennett Medini sold 2,750 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $145.52, for a total value of $400,180.00. Following the completion of the transaction, the chief accounting officer now directly owns 91,659 shares of the company’s stock, valued at approximately $13,338,217.68. The disclosure for this sale can be found here. In the last three months, insiders sold 340,821 shares of company stock valued at $50,608,027. Insiders own 0.47% of the company’s stock.

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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