Chubb Limited (NYSE:CB) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 24.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,698 shares of the financial services provider’s stock after selling 5,527 shares during the period. Highland Capital Management LLC’s holdings in Chubb were worth $4,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CB. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in Chubb in the 4th quarter valued at about $33,177,000. Duality Advisers LP acquired a new position in Chubb in the 4th quarter valued at about $473,000. Bfsg LLC purchased a new stake in shares of Chubb in the 4th quarter valued at approximately $65,000. Atria Wealth Solutions Inc. increased its holdings in shares of Chubb by 1.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 12,889 shares of the financial services provider’s stock worth $2,922,000 after buying an additional 160 shares during the last quarter. Finally, Syon Capital LLC raised its position in shares of Chubb by 6.3% during the 4th quarter. Syon Capital LLC now owns 3,034 shares of the financial services provider’s stock valued at $686,000 after buying an additional 179 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America raised their target price on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Roth Mkm lifted their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $270.79.

Chubb Stock Performance

Shares of CB stock traded up $3.25 during mid-day trading on Friday, hitting $276.10. 1,325,683 shares of the stock were exchanged, compared to its average volume of 1,618,184. The stock’s fifty day simple moving average is $264.71 and its two-hundred day simple moving average is $258.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.31. Chubb Limited has a 12-month low of $198.67 and a 12-month high of $277.91. The stock has a market capitalization of $112.11 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 5.21 and a beta of 0.66.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.92 EPS. On average, analysts forecast that Chubb Limited will post 21.15 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.32%. Chubb’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares in the company, valued at $12,199,649.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,521 shares of company stock worth $3,878,712. 0.86% of the stock is owned by insiders.

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.