Apexium Financial LP Trims Holdings in Chubb Limited $CB

Apexium Financial LP decreased its holdings in Chubb Limited (NYSE:CB) by 6.3% in the 2nd quarter, Holdings Channel reports. The firm owned 2,453 shares of the financial services provider’s stock after selling 165 shares during the period. Apexium Financial LP’s holdings in Chubb were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter valued at $25,000. North Capital Inc. purchased a new position in Chubb during the 1st quarter worth $26,000. IMA Advisory Services Inc. purchased a new position in Chubb during the 1st quarter worth $31,000. 1248 Management LLC purchased a new position in Chubb during the 1st quarter worth $31,000. Finally, WPG Advisers LLC purchased a new position in Chubb during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CB. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research report on Saturday, September 27th. Barclays downgraded shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Wells Fargo & Company cut their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. Morgan Stanley cut their price objective on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Finally, UBS Group cut their price objective on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $303.24.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $283.99 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a market cap of $113.22 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54. The firm’s fifty day simple moving average is $274.76 and its 200-day simple moving average is $282.25.

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

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is presently 17.12%.

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.