Chubb Limited $CB Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC cut its holdings in Chubb Limited (NYSE:CB) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,333 shares of the financial services provider’s stock after selling 49 shares during the quarter. Chubb comprises approximately 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 19th largest holding. Mattern Capital Management LLC’s holdings in Chubb were worth $10,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the first quarter worth about $25,000. North Capital Inc. acquired a new position in shares of Chubb during the first quarter worth about $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb during the first quarter worth about $31,000. 1248 Management LLC acquired a new position in shares of Chubb during the first quarter worth about $31,000. Finally, WPG Advisers LLC acquired a new position in shares of Chubb during the first quarter worth about $33,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CB. Barclays lowered shares of Chubb from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Piper Sandler reiterated a “neutral” rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and dropped their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Evercore ISI upped their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus target price of $303.24.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Chubb Trading Up 0.1%

Shares of CB opened at $281.73 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average is $274.46 and its two-hundred day moving average is $282.32. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a market capitalization of $112.32 billion, a P/E ratio of 12.43, a PEG ratio of 3.18 and a beta of 0.54.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business posted $5.38 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be given a $0.97 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio is currently 17.12%.

Chubb Company 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.