Chubb Ltd (NYSE:CB) Shares Sold by Markston International LLC
Markston International LLC trimmed its holdings in Chubb Ltd (NYSE:CB) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,218 shares of the financial services provider’s stock after selling 572 shares during the quarter. Markston International LLC’s holdings in Chubb were worth $4,459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of Chubb by 55.1% in the first quarter. Capital World Investors now owns 11,140,099 shares of the financial services provider’s stock valued at $1,244,244,000 after acquiring an additional 3,958,065 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Chubb by 107.9% in the second quarter. Nordea Investment Management AB now owns 4,684,336 shares of the financial services provider’s stock valued at $589,758,000 after acquiring an additional 2,431,302 shares during the period. Viking Global Investors LP boosted its holdings in shares of Chubb by 139.7% in the second quarter. Viking Global Investors LP now owns 2,202,033 shares of the financial services provider’s stock valued at $278,821,000 after acquiring an additional 1,283,492 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Chubb by 123.5% in the second quarter. Neuberger Berman Group LLC now owns 1,763,065 shares of the financial services provider’s stock valued at $223,219,000 after acquiring an additional 974,209 shares during the period. Finally, Nuance Investments LLC boosted its holdings in shares of Chubb by 169.5% in the first quarter. Nuance Investments LLC now owns 1,465,127 shares of the financial services provider’s stock valued at $163,640,000 after acquiring an additional 921,501 shares during the period. 87.10% of the stock is owned by hedge funds and other institutional investors.
Shares of CB stock traded up $0.45 during mid-day trading on Friday, reaching $117.48. The stock had a trading volume of 61,495 shares, compared to its average volume of 2,414,287. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market cap of $52.82 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64. Chubb Ltd has a 12-month low of $87.35 and a 12-month high of $167.74. The business has a 50-day simple moving average of $125.69 and a 200 day simple moving average of $121.57.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, September 17th. Chubb’s payout ratio is currently 30.86%.
Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price target on Chubb from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Zacks Investment Research cut Chubb from a “hold” rating to a “sell” rating and set a $133.00 price target for the company. in a research note on Thursday, July 9th. Deutsche Bank cut their price target on Chubb from $138.00 to $135.00 and set a “hold” rating for the company in a research note on Tuesday, July 7th. Bank of America cut their price objective on Chubb from $132.00 to $114.00 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company reiterated a “buy” rating and issued a $150.00 price objective (up previously from $142.00) on shares of Chubb in a research report on Monday, July 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $145.00.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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