Bank of New York Mellon Corp Has $538.06 Million Stake in Chubb Ltd (CB)

Bank of New York Mellon Corp cut its stake in shares of Chubb Ltd (NYSE:CB) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,236,030 shares of the financial services provider’s stock after selling 16,137 shares during the quarter. Bank of New York Mellon Corp owned about 0.91% of Chubb worth $538,061,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CB. Kidder Stephen W boosted its position in shares of Chubb by 0.7% during the second quarter. Kidder Stephen W now owns 48,951 shares of the financial services provider’s stock valued at $6,219,000 after buying an additional 360 shares during the last quarter. HL Financial Services LLC boosted its position in shares of Chubb by 16.6% during the second quarter. HL Financial Services LLC now owns 2,635 shares of the financial services provider’s stock valued at $335,000 after buying an additional 375 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its position in shares of Chubb by 1.4% during the second quarter. Carnegie Capital Asset Management LLC now owns 27,622 shares of the financial services provider’s stock valued at $3,683,000 after buying an additional 383 shares during the last quarter. Intact Investment Management Inc. boosted its position in shares of Chubb by 12.1% during the second quarter. Intact Investment Management Inc. now owns 3,700 shares of the financial services provider’s stock valued at $470,000 after buying an additional 400 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Chubb by 6.5% during the second quarter. Private Trust Co. NA now owns 6,689 shares of the financial services provider’s stock valued at $849,000 after buying an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 85.99% of the company’s stock.

In other news, insider Timothy Alan Boroughs sold 14,971 shares of Chubb stock in a transaction dated Thursday, September 20th. The stock was 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 approximately $28,263,399.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 227,994 shares of Chubb stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total value 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 three months. Insiders own 0.44% of the company’s stock.



Shares of NYSE:CB opened at $123.44 on Monday. The stock has a market capitalization of $56.92 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.33. Chubb Ltd has a 52-week low of $120.50 and a 52-week high of $157.50.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.02. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. As a group, equities analysts anticipate that Chubb Ltd will post 9.97 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 21st were given a $0.73 dividend. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.92 annualized dividend and a yield of 2.37%. Chubb’s payout ratio is 36.36%.

CB has been the topic of several recent analyst reports. Barclays dropped their price objective on Chubb from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th. Credit Suisse Group initiated coverage on Chubb in a research report on Tuesday, August 7th. They set a “neutral” rating and a $150.00 price objective on the stock. Wells Fargo & Co reaffirmed a “buy” rating and set a $169.00 price objective on shares of Chubb in a research report on Tuesday, July 24th. Zacks Investment Research cut Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, Citigroup increased their price objective on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Chubb currently has an average rating of “Hold” and an average price target of $159.00.

About Chubb

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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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