Janney Montgomery Scott LLC Sells 15,323 Shares of Chubb Limited (NYSE:CB)

Janney Montgomery Scott LLC reduced its holdings in Chubb Limited (NYSE:CB) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 251,411 shares of the financial services provider’s stock after selling 15,323 shares during the period. Janney Montgomery Scott LLC owned 0.06% of Chubb worth $65,148,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Chubb by 0.8% in the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock valued at $3,855,996,000 after purchasing an additional 138,142 shares during the period. Capital World Investors boosted its holdings in shares of Chubb by 0.4% during the fourth quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after acquiring an additional 43,845 shares during the period. Norges Bank acquired a new position in shares of Chubb in the fourth quarter valued at approximately $957,756,000. Raymond James & Associates grew its position in shares of Chubb by 2.6% in the fourth quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock valued at $701,301,000 after purchasing an additional 77,453 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Chubb by 0.9% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock worth $609,880,000 after purchasing an additional 24,323 shares during the period. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Shares of CB traded down $1.57 during trading hours on Friday, reaching $252.51. The stock had a trading volume of 1,235,632 shares, compared to its average volume of 1,286,286. Chubb Limited has a 12 month low of $186.52 and a 12 month high of $275.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $102.53 billion, a PE ratio of 11.21, a PEG ratio of 6.13 and a beta of 0.66. The company’s 50-day moving average is $259.99 and its two-hundred day moving average is $249.57.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. Chubb’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.41 earnings per share. Research analysts expect that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were given a dividend of $0.91 per share. The ex-dividend date was Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.44%. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is 16.16%.

Insiders Place Their Bets

In related news, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the sale, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the transaction, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,552 shares of company stock worth $12,149,985. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CB. StockNews.com cut Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Citigroup reissued a “neutral” rating and issued a $275.00 price objective (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. Keefe, Bruyette & Woods lowered their target price on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. Morgan Stanley boosted their price target on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group raised their price objective on Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $266.70.

About Chubb

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.