Putnam Investments LLC lessened its holdings in Chubb Ltd (NYSE:CB) by 41.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,953 shares of the financial services provider’s stock after selling 40,812 shares during the period. Putnam Investments LLC’s holdings in Chubb were worth $8,389,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CB. Mcmillion Capital Management Inc. acquired a new stake in shares of Chubb in the 2nd quarter valued at $27,000. JNBA Financial Advisors raised its holdings in shares of Chubb by 223.2% in the 2nd quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of Chubb in the 1st quarter valued at $28,000. Meridian Wealth Management LLC acquired a new stake in shares of Chubb in the 2nd quarter valued at $28,000. Finally, QCM Cayman Ltd. raised its holdings in shares of Chubb by 90.5% in the 1st quarter. QCM Cayman Ltd. now owns 21,359 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 10,148 shares in the last quarter. 89.51% of the stock is owned by institutional investors.
NYSE:CB traded down $0.82 during midday trading on Friday, hitting $157.68. 2,008,920 shares of the company were exchanged, compared to its average volume of 1,354,029. The company has a fifty day simple moving average of $156.55 and a 200 day simple moving average of $147.10. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $162.19. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $72.69 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.75 dividend. The ex-dividend date is Thursday, September 19th. This represents a $3.00 dividend on an annualized basis and a yield of 1.90%. Chubb’s dividend payout ratio is presently 31.78%.
CB has been the topic of several research analyst reports. Compass Point lowered shares of Chubb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $165.00 to $156.00 in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Morgan Stanley lifted their price target on shares of Chubb from $154.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. UBS Group lifted their price target 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. Atlantic Securities lowered shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a research note on Thursday, June 20th. Finally, Raymond James reiterated a “strong-buy” rating and set a $160.00 price target (up from $150.00) on shares of Chubb in a research note on Friday, July 5th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chubb has an average rating of “Hold” and a consensus price target of $153.00.
In other Chubb news, insider Paul J. Krump sold 5,000 shares of Chubb stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $155.00, for a total value of $775,000.00. Following the transaction, the insider now directly owns 118,865 shares in the company, valued at $18,424,075. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul J. Krump sold 6,000 shares of Chubb stock in a transaction 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 owns 112,865 shares in the company, valued at $18,058,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,125 shares of company stock worth $3,010,555. 0.47% of the stock is currently owned by company insiders.
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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