Massachusetts Financial Services Co. MA Sells 266,098 Shares of Chubb Limited (NYSE:CB)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Chubb Limited (NYSE:CB) by 2.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,921,346 shares of the financial services provider’s stock after selling 266,098 shares during the period. Chubb accounts for 0.7% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 28th largest position. Massachusetts Financial Services Co. MA owned 2.20% of Chubb worth $2,275,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital World Investors boosted its stake in Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after buying an additional 2,064,730 shares during the period. Norges Bank bought a new stake in shares of Chubb in the 4th quarter valued at $957,756,000. Lazard Asset Management LLC raised its stake in Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares during the period. Finally, Raymond James & Associates lifted its holdings in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after acquiring an additional 87,059 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the firm’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 completion of the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The disclosure for this sale can be found here. In the last three months, insiders sold 94,836 shares of company stock worth $27,055,900. 0.86% of the stock is owned by company insiders.

Chubb Trading Up 0.1 %

NYSE CB opened at $288.87 on Monday. Chubb Limited has a 12 month low of $204.15 and a 12 month high of $294.18. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $272.40 and a 200-day moving average of $262.03. The company has a market cap of $116.68 billion, a PE ratio of 12.82, a PEG ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.92 earnings per share. On average, equities research analysts anticipate that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The firm 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 of this dividend is Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s dividend payout ratio is 16.16%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CB. Morgan Stanley dropped their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. JMP Securities upped their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Barclays began coverage on shares of Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $274.70.

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.