Chubb Limited (NYSE:CB) Shares Sold by First Manhattan Co.

First Manhattan Co. cut its holdings in shares of Chubb Limited (NYSE:CBGet Rating) by 4.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 56,797 shares of the financial services provider’s stock after selling 2,355 shares during the period. First Manhattan Co.’s holdings in Chubb were worth $12,149,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. First Republic Investment Management Inc. lifted its holdings in Chubb by 22.0% during the 1st quarter. First Republic Investment Management Inc. now owns 1,027,046 shares of the financial services provider’s stock worth $219,685,000 after buying an additional 184,920 shares in the last quarter. Forum Financial Management LP lifted its holdings in Chubb by 15.3% during the 1st quarter. Forum Financial Management LP now owns 4,781 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 633 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Chubb by 24.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 15,851 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 3,100 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Chubb by 15,339.4% during the 1st quarter. 1832 Asset Management L.P. now owns 2,431,549 shares of the financial services provider’s stock worth $512,968,000 after buying an additional 2,415,800 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Chubb by 2.4% during the 1st quarter. Captrust Financial Advisors now owns 55,048 shares of the financial services provider’s stock worth $11,818,000 after buying an additional 1,281 shares in the last quarter. 87.97% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Up 1.0 %

Shares of NYSE:CB opened at $196.98 on Tuesday. The company has a market cap of $82.27 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.24 and a beta of 0.67. The firm’s 50-day simple moving average is $191.13 and its 200-day simple moving average is $201.10. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.28. Chubb Limited has a fifty-two week low of $171.96 and a fifty-two week high of $218.99.

Chubb (NYSE:CBGet Rating) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.61. The business had revenue of $10.51 billion for the quarter, compared to the consensus estimate of $10.52 billion. Chubb had a net margin of 17.36% and a return on equity of 10.97%. During the same quarter in the previous year, the firm earned $3.62 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 15.75 earnings per share for the current year.

Chubb announced that its Board of Directors has approved a stock buyback plan on Thursday, May 19th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 16th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, September 15th. Chubb’s payout ratio is 20.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CB shares. Morgan Stanley reduced their price objective on shares of Chubb from $224.00 to $216.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Jefferies Financial Group dropped their target price on shares of Chubb from $247.00 to $244.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Citigroup assumed coverage on shares of Chubb in a research report on Monday, May 23rd. They issued a “neutral” rating and a $209.00 target price on the stock. Barclays lowered their price objective on shares of Chubb from $250.00 to $249.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Finally, Wells Fargo & Company raised their price objective on shares of Chubb from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.83.

Chubb Company Profile

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Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial 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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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