Silvercrest Asset Management Group LLC lowered its stake in shares of Chubb Ltd (NYSE:CB) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,258 shares of the financial services provider’s stock after selling 461 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Chubb were worth $1,363,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Alpha Cubed Investments LLC boosted its position in shares of Chubb by 4.3% in the 2nd quarter. Alpha Cubed Investments LLC now owns 1,708 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 70 shares during the last quarter. Monetary Management Group Inc. increased its position in shares of Chubb by 3.4% in the first quarter. Monetary Management Group Inc. now owns 2,275 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 75 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Chubb by 2.8% in the second quarter. Flagship Harbor Advisors LLC now owns 2,721 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 75 shares during the last quarter. Torch Wealth Management LLC grew its holdings in Chubb by 0.5% during the second quarter. Torch Wealth Management LLC now owns 16,148 shares of the financial services provider’s stock worth $2,378,000 after purchasing an additional 75 shares during the period. Finally, BTR Capital Management Inc. grew its holdings in Chubb by 5.0% during the second quarter. BTR Capital Management Inc. now owns 1,656 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 89.51% of the company’s stock.
NYSE:CB traded down $0.99 during trading hours on Friday, reaching $157.51. The company’s stock had a trading volume of 51,242 shares, compared to its average volume of 1,338,512. The firm has a market capitalization of $72.24 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.54 and a beta of 0.70. The firm has a 50-day simple moving average of $156.45 and a 200-day simple moving average of $146.98. Chubb Ltd has a 1 year low of $119.54 and a 1 year high of $162.19. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 0.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 19th. Chubb’s payout ratio is currently 31.78%.
In other news, insider Paul J. Krump sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $160.00, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now directly owns 112,865 shares of the company’s stock, valued at $18,058,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Bennett Medini sold 2,125 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $153.72, for a total transaction of $326,655.00. Following the transaction, the insider now directly owns 89,534 shares of the company’s stock, valued at $13,763,166.48. The disclosure for this sale can be found here. Insiders have sold 19,125 shares of company stock worth $3,010,555 in the last three months. 0.47% of the stock is currently owned by insiders.
CB has been the subject of a number of research analyst reports. Wells Fargo & Co boosted their price objective on Chubb from $157.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Compass Point downgraded shares of Chubb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $165.00 to $156.00 in a report on Wednesday, May 29th. They noted that the move was a valuation call. ValuEngine cut shares of Chubb from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group boosted their price objective on shares of Chubb from $156.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Atlantic Securities cut shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Chubb has a consensus rating of “Hold” and a consensus target price of $153.00.
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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