New Potomac Partners LLC Decreases Stock Position in Chubb Ltd (NYSE:CB)

New Potomac Partners LLC lessened its stake in Chubb Ltd (NYSE:CB) by 1.1% in the third quarter, Holdings Channel reports. The fund owned 11,585 shares of the financial services provider’s stock after selling 125 shares during the quarter. Chubb makes up about 1.9% of New Potomac Partners LLC’s holdings, making the stock its 24th biggest holding. New Potomac Partners LLC’s holdings in Chubb were worth $1,870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. Amundi Pioneer Asset Management Inc. boosted its holdings in Chubb by 0.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 603,481 shares of the financial services provider’s stock worth $84,536,000 after acquiring an additional 1,694 shares during the period. Cox Capital Mgt LLC boosted its stake in shares of Chubb by 4.4% during the 2nd quarter. Cox Capital Mgt LLC now owns 19,574 shares of the financial services provider’s stock valued at $2,883,000 after buying an additional 830 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Chubb by 20.3% during the 2nd quarter. Private Trust Co. NA now owns 7,653 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 1,294 shares during the last quarter. Fulton Bank N.A. lifted its stake in Chubb by 2.8% during the second quarter. Fulton Bank N.A. now owns 13,307 shares of the financial services provider’s stock worth $1,960,000 after purchasing an additional 357 shares during the last quarter. Finally, Rockland Trust Co. lifted its stake in Chubb by 2.7% during the second quarter. Rockland Trust Co. now owns 77,922 shares of the financial services provider’s stock worth $11,477,000 after purchasing an additional 2,069 shares during the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.

In other Chubb news, EVP Joseph F. Wayland sold 6,500 shares of Chubb stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $158.05, for a total value of $1,027,325.00. Following the transaction, the executive vice president now directly owns 77,201 shares of the company’s stock, valued at approximately $12,201,618.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul J. Krump sold 5,000 shares of Chubb stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $155.00, for a total value of $775,000.00. Following the completion of the transaction, the insider now directly owns 118,865 shares in the company, valued at $18,424,075. The disclosure for this sale can be found here. Insiders have sold a total of 25,625 shares of company stock valued at $4,037,880 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Several brokerages have weighed in on CB. Wells Fargo & Co increased their target price on Chubb from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. JMP Securities reaffirmed an “outperform” rating on shares of Chubb in a research note on Thursday, July 25th. Raymond James raised their target price on Chubb from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price on Chubb from $154.00 to $163.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, Evercore ISI began coverage on Chubb in a research note on Thursday. They set an “in-line” rating and a $149.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $154.75.

NYSE CB traded up $0.45 during trading on Monday, reaching $153.14. 35,394 shares of the company’s stock were exchanged, compared to its average volume of 1,497,479. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $162.44. The firm has a market capitalization of $69.59 billion, a PE ratio of 16.22, a P/E/G ratio of 1.46 and a beta of 0.70. 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’s fifty day simple moving average is $158.30 and its 200-day simple moving average is $150.22.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business earned $2.68 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts forecast that Chubb Ltd will post 10.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, September 19th. Chubb’s dividend payout ratio (DPR) is presently 31.78%.

Chubb 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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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