Chubb Limited $CB Stock Position Lowered by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS lessened its position in Chubb Limited (NYSE:CB) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,734 shares of the financial services provider’s stock after selling 404 shares during the quarter. Chubb makes up about 1.3% of Legacy Wealth Management LLC MS’s holdings, making the stock its 16th biggest holding. Legacy Wealth Management LLC MS’s holdings in Chubb were worth $4,269,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Voya Investment Management LLC lifted its position in shares of Chubb by 48.6% in the 1st quarter. Voya Investment Management LLC now owns 112,192 shares of the financial services provider’s stock valued at $33,881,000 after acquiring an additional 36,677 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $41,000. Hodges Capital Management Inc. lifted its position in shares of Chubb by 33.1% in the 1st quarter. Hodges Capital Management Inc. now owns 2,085 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 518 shares in the last quarter. Modern Wealth Management LLC increased its stake in Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock valued at $744,000 after buying an additional 143 shares during the period. Finally, Nova Wealth Management Inc. acquired a new position in Chubb in the 1st quarter valued at approximately $47,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $278.02 on Friday. The company’s fifty day moving average is $274.38 and its 200-day moving average is $283.34. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a market cap of $110.84 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 3.19 and a beta of 0.56. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. Chubb’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.38 EPS. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s dividend payout ratio is currently 17.12%.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CB. Wells Fargo & Company dropped their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Citigroup began coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price objective on the stock. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Finally, Evercore ISI set a $312.00 price objective on shares of Chubb in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $302.00.

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.