MD Sass Investors Services Inc. Decreases Position in Chubb Ltd (CB)
MD Sass Investors Services Inc. cut its position in shares of Chubb Ltd (NYSE:CB) by 13.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 327,079 shares of the financial services provider’s stock after selling 49,109 shares during the quarter. Chubb accounts for about 3.1% of MD Sass Investors Services Inc.’s portfolio, making the stock its 15th biggest holding. MD Sass Investors Services Inc. owned about 0.07% of Chubb worth $47,548,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. BT Investment Management Ltd bought a new position in shares of Chubb during the second quarter worth about $656,000. BlackRock Inc. grew its holdings in shares of Chubb by 1.4% during the second quarter. BlackRock Inc. now owns 29,312,701 shares of the financial services provider’s stock worth $4,261,481,000 after buying an additional 409,574 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Chubb by 4.1% during the second quarter. Bahl & Gaynor Inc. now owns 6,860 shares of the financial services provider’s stock worth $906,000 after buying an additional 271 shares in the last quarter. Comerica Securities Inc. grew its holdings in shares of Chubb by 6.4% during the second quarter. Comerica Securities Inc. now owns 3,890 shares of the financial services provider’s stock worth $568,000 after buying an additional 233 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Chubb during the second quarter worth about $534,000. Institutional investors and hedge funds own 86.93% of the company’s stock.
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In other news, insider Juan C. Andrade sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $149.71, for a total value of $748,550.00. Following the completion of the transaction, the insider now directly owns 100,822 shares of the company’s stock, valued at $15,094,061.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Philip V. Bancroft sold 47,049 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $148.86, for a total value of $7,003,714.14. Following the completion of the transaction, the insider now directly owns 344,560 shares of the company’s stock, valued at $51,291,201.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,604 shares of company stock valued at $10,031,383. 0.43% of the stock is currently owned by corporate insiders.
Chubb Ltd (NYSE:CB) traded up 0.256% during mid-day trading on Friday, hitting $143.155. The stock had a trading volume of 860,005 shares. Chubb Ltd has a 1-year low of $121.48 and a 1-year high of $150.28. The stock has a market cap of $66.63 billion, a PE ratio of 12.585 and a beta of 0.92. The firm’s 50-day moving average price is $144.76 and its 200-day moving average price is $141.78.
Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.06 billion. Chubb had a return on equity of 10.51% and a net margin of 16.08%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 EPS. On average, equities analysts expect that Chubb Ltd will post $10.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, September 28th. Chubb’s dividend payout ratio is presently 24.98%.
CB has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $165.00 price objective on shares of Chubb in a report on Thursday, July 27th. Wells Fargo & Company reiterated a “buy” rating on shares of Chubb in a report on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $155.00 price target on shares of Chubb in a research note on Thursday, July 27th. UBS AG restated a “buy” rating and issued a $161.00 price target (up from $152.00) on shares of Chubb in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $154.09.
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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