Hsbc Holdings PLC Trims Stock Holdings in Chubb Limited $CB

Hsbc Holdings PLC reduced its holdings in shares of Chubb Limited (NYSE:CB) by 12.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 378,461 shares of the financial services provider’s stock after selling 52,405 shares during the period. Hsbc Holdings PLC’s holdings in Chubb were worth $108,989,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CB. GQG Partners LLC lifted its position in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Nuveen LLC purchased a new position in Chubb in the 1st quarter worth about $562,221,000. Ameriprise Financial Inc. lifted its holdings in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after buying an additional 304,751 shares in the last quarter. Citigroup Inc. boosted its position in Chubb by 79.0% in the 1st quarter. Citigroup Inc. now owns 631,628 shares of the financial services provider’s stock valued at $190,745,000 after buying an additional 278,697 shares during the period. Finally, AQR Capital Management LLC grew its stake in Chubb by 19.6% in the 1st quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock worth $423,826,000 after acquiring an additional 231,404 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CB. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, October 22nd. Bank of America lifted their target price on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research report on Monday, October 13th. Jefferies Financial Group upped their target price on Chubb from $297.00 to $302.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $300.00 price target on shares of Chubb in a research note on Monday, October 27th. Finally, Citigroup lifted their price objective on Chubb from $326.00 to $331.00 and gave the company a “buy” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus price target of $308.11.

Chubb Trading Down 0.5%

NYSE CB opened at $296.37 on Friday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a 50 day moving average price of $284.54 and a 200 day moving average price of $281.57. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market cap of $116.63 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same period in the previous year, the company earned $5.72 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. Chubb’s payout ratio is presently 16.19%.

Insider Transactions at Chubb

In other news, EVP Timothy Alan Boroughs sold 850 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $295.19, for a total transaction of $250,911.50. Following the transaction, the executive vice president owned 1,585 shares in the company, valued at $467,876.15. This represents a 34.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 16,375 shares of Chubb stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares of the company’s stock, valued at $22,004,001.25. This trade represents a 18.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 57,333 shares of company stock worth $16,629,873. Insiders own 0.77% of the company’s stock.

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.