Stralem & Co. Inc. lessened its stake in shares of Chubb Ltd (NYSE:CB) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 56,755 shares of the financial services provider’s stock after selling 1,700 shares during the period. Stralem & Co. Inc.’s holdings in Chubb were worth $7,585,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CB. Massachusetts Financial Services Co. MA raised its stake in Chubb by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,848,022 shares of the financial services provider’s stock valued at $1,758,976,000 after purchasing an additional 488,028 shares during the period. Bank of America Corp DE raised its stake in Chubb by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 10,153,074 shares of the financial services provider’s stock valued at $1,289,643,000 after purchasing an additional 175,841 shares during the period. American Century Companies Inc. raised its stake in Chubb by 12.3% during the 2nd quarter. American Century Companies Inc. now owns 4,610,946 shares of the financial services provider’s stock valued at $585,682,000 after purchasing an additional 504,768 shares during the period. Bessemer Group Inc. raised its stake in Chubb by 0.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,850,787 shares of the financial services provider’s stock valued at $235,088,000 after purchasing an additional 11,604 shares during the period. Finally, Swiss National Bank raised its stake in Chubb by 2.7% during the 2nd quarter. Swiss National Bank now owns 1,742,420 shares of the financial services provider’s stock valued at $221,322,000 after purchasing an additional 45,900 shares during the period. Institutional investors own 85.75% of the company’s stock.

Shares of NYSE CB traded up $2.19 during mid-day trading on Wednesday, reaching $127.08. The company had a trading volume of 117,380 shares, compared to its average volume of 1,655,917. Chubb Ltd has a twelve month low of $123.23 and a twelve month high of $157.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $61.91 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.06. Chubb had a net margin of 11.53% and a return on equity of 7.41%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.30 billion. During the same period in the prior year, the business posted $2.50 earnings per share. Chubb’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts predict that Chubb Ltd will post 10.41 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 21st were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, September 20th. Chubb’s dividend payout ratio (DPR) is presently 36.36%.

CB has been the topic of several recent analyst reports. Deutsche Bank downgraded shares of Chubb from a “hold” rating to a “sell” rating and cut their target price for the company from $135.00 to $126.00 in a research note on Monday, August 13th. Zacks Investment Research downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Wells Fargo & Co reissued a “buy” rating on shares of Chubb in a research note on Wednesday, August 8th. Credit Suisse Group initiated coverage on shares of Chubb in a research note on Tuesday, August 7th. They set a “neutral” rating and a $150.00 target price on the stock. Finally, ValuEngine downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $159.45.

In other Chubb news, insider Timothy Alan Boroughs sold 14,971 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the transaction, the insider now directly owns 202,794 shares of the company’s stock, valued at $28,263,399.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 227,994 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the transaction, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The disclosure for this sale can be found here. Insiders sold 243,093 shares of company stock worth $34,089,733 over the last ninety days. 0.44% of the stock is currently owned by company insiders.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

See Also: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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