UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Chubb Limited $CB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Chubb Limited (NYSE:CBFree Report) by 79.8% during the second quarter, Holdings Channel reports. The fund owned 689,209 shares of the financial services provider’s stock after selling 2,720,634 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Chubb were worth $234,841,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CB. IMG Wealth Management Inc. purchased a new stake in shares of Chubb in the 2nd quarter valued at $25,000. Dunhill Financial LLC purchased a new position in Chubb in the 2nd quarter worth $25,000. Parvin Asset Management LLC bought a new stake in Chubb in the second quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Finally, Frazier Financial Advisors LLC boosted its position in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HSBC lowered Chubb from a “buy” rating to a “hold” rating and raised their price target for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. UBS Group increased their price target on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus target price of $361.00.

Check Out Our Latest Stock Analysis on Chubb

Chubb Stock Performance

Shares of NYSE:CB opened at $339.30 on Tuesday. The company has a market capitalization of $130.90 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.66 and a beta of 0.39. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The firm’s 50-day moving average is $347.74 and its 200 day moving average is $334.12. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CBGet Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $6.14 EPS. Research analysts predict that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Chubb Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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