Legacy Wealth Management LLC MS Sells 1,907 Shares of Chubb Limited $CB

Legacy Wealth Management LLC MS lowered its position in shares of Chubb Limited (NYSE:CB) by 16.3% in the second quarter, HoldingsChannel reports. The firm owned 9,757 shares of the financial services provider’s stock after selling 1,907 shares during the period. Chubb makes up approximately 0.9% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 21st biggest holding. Legacy Wealth Management LLC MS’s holdings in Chubb were worth $3,325,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its holdings in shares of Chubb by 17.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,651 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 555 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Chubb by 5.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,104 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 151 shares in the last quarter. Chesley Taft & Associates LLC boosted its holdings in shares of Chubb by 1.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 103,675 shares of the financial services provider’s stock worth $35,326,000 after acquiring an additional 1,104 shares in the last quarter. Trust Point Inc. grew its position in Chubb by 932.6% during the 2nd quarter. Trust Point Inc. now owns 15,953 shares of the financial services provider’s stock worth $5,436,000 after acquiring an additional 14,408 shares during the last quarter. Finally, Victrix Investment Advisors grew its position in Chubb by 6.2% during the 2nd quarter. Victrix Investment Advisors now owns 13,241 shares of the financial services provider’s stock worth $4,512,000 after acquiring an additional 775 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

CB has been the subject of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Bank of America decreased their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $360.09.

Chubb Price Performance

Shares of CB stock opened at $350.17 on Friday. The firm has a market cap of $135.10 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.73 and a beta of 0.39. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $341.33 and a 200 day moving average price of $330.43.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.14 EPS. Research analysts expect that Chubb Limited will post 27.45 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.