Wellington Management Group LLP Sells 31,847 Shares of Chubb Limited $CB

Wellington Management Group LLP decreased its holdings in shares of Chubb Limited (NYSE:CB) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,131,921 shares of the financial services provider’s stock after selling 31,847 shares during the period. Wellington Management Group LLP’s holdings in Chubb were worth $2,295,235,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Chubb during the second quarter worth about $1,195,137,000. Bank of America Corp DE increased its holdings in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares in the last quarter. London Co. of Virginia raised its stake in shares of Chubb by 211.0% in the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after purchasing an additional 500,116 shares during the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Chubb by 46.9% in the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after purchasing an additional 444,557 shares during the last quarter. Finally, Troy Asset Management Ltd grew its stake in shares of Chubb by 89.1% in the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock worth $229,872,000 after acquiring an additional 373,872 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Barclays boosted their price target on shares of Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Evercore increased their price objective on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Citigroup increased their target price on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Raymond James Financial lifted their price target on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $340.81.

Chubb Stock Performance

NYSE:CB opened at $329.24 on Friday. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The stock has a market cap of $128.45 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.07 and a beta of 0.46. The firm’s fifty day simple moving average is $319.55 and its 200 day simple moving average is $299.38. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.02 earnings per share. As a group, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s payout ratio is presently 15.08%.

Chubb Company Profile

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.