Lazard Asset Management LLC Has $316.72 Million Stock Position in Chubb Limited $CB

Lazard Asset Management LLC lowered its position in Chubb Limited (NYSE:CBFree Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 971,744 shares of the financial services provider’s stock after selling 83,280 shares during the quarter. Lazard Asset Management LLC owned approximately 0.25% of Chubb worth $316,720,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CB. Gateway Wealth Partners LLC acquired a new position in Chubb in the first quarter worth approximately $1,699,000. Cypress Capital Group lifted its stake in Chubb by 3.4% in the first quarter. Cypress Capital Group now owns 1,101 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 36 shares during the last quarter. Everest Financial Group LLC bought a new stake in Chubb in the first quarter worth approximately $793,000. Lombard Odier Asset Management Switzerland SA grew its position in Chubb by 24.7% in the first quarter. Lombard Odier Asset Management Switzerland SA now owns 15,350 shares of the financial services provider’s stock worth $5,003,000 after acquiring an additional 3,040 shares in the last quarter. Finally, Waverly Advisors LLC increased its stake in shares of Chubb by 8.2% during the 1st quarter. Waverly Advisors LLC now owns 25,203 shares of the financial services provider’s stock worth $8,214,000 after purchasing an additional 1,916 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Chubb Stock Up 0.0%

Shares of CB stock opened at $359.78 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $365.29. The stock has a 50 day moving average of $335.55 and a 200-day moving average of $327.17. The firm has a market cap of $139.55 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.80 and a beta of 0.40.

Chubb (NYSE:CBGet Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $16.01 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period last year, the business posted $6.14 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities analysts predict that Chubb Limited will post 27.15 EPS for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. This is an increase from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is 14.43%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CB. Morgan Stanley raised their price target on shares of Chubb from $330.00 to $340.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. Citizens Jmp reissued a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Atlantic Securities set a $301.00 target price on Chubb in a report on Wednesday, July 15th. Finally, Wells Fargo & Company lowered their price objective on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $360.09.

Get Our Latest Analysis on CB

About Chubb

(Free Report)

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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