Waverly Advisors LLC Trims Position in Chubb Limited $CB

Waverly Advisors LLC decreased its position in Chubb Limited (NYSE:CB) by 6.6% during the second quarter, Holdings Channel reports. The fund owned 23,531 shares of the financial services provider’s stock after selling 1,672 shares during the period. Waverly Advisors LLC’s holdings in Chubb were worth $8,018,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CB. California State Teachers Retirement System grew its stake in shares of Chubb by 32,258.2% during the 2nd quarter. California State Teachers Retirement System now owns 184,618,043 shares of the financial services provider’s stock valued at $62,906,752,000 after purchasing an additional 184,047,499 shares during the period. XXEC Inc. bought a new position in shares of Chubb in the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc boosted its holdings in shares of Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after buying an additional 2,916,288 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Chubb in the second quarter worth approximately $9,913,336,000. Finally, State Street Corp boosted its holdings in shares of Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after buying an additional 68,553 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In other news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Mizuho lifted their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods raised their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Trading Up 0.3%

Shares of NYSE:CB opened at $337.59 on Thursday. The stock has a 50 day moving average of $347.88 and a 200 day moving average of $334.70. The company has a market cap of $130.24 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.37. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter last year, the business earned $6.14 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.