Chesley Taft & Associates LLC Lowers Stock Position in Chubb Ltd (NYSE:CB)

Chesley Taft & Associates LLC cut its holdings in shares of Chubb Ltd (NYSE:CB) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,056 shares of the financial services provider’s stock after selling 815 shares during the period. Chesley Taft & Associates LLC’s holdings in Chubb were worth $1,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CB. Massachusetts Financial Services Co. MA lifted its holdings in shares of Chubb by 6.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,659,734 shares of the financial services provider’s stock worth $1,637,347,000 after purchasing an additional 919,127 shares during the period. Capital World Investors lifted its holdings in shares of Chubb by 55.1% during the first quarter. Capital World Investors now owns 11,140,099 shares of the financial services provider’s stock worth $1,244,244,000 after purchasing an additional 3,958,065 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Chubb by 4.9% during the first quarter. WCM Investment Management LLC now owns 8,554,031 shares of the financial services provider’s stock worth $955,399,000 after purchasing an additional 401,306 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Chubb by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 6,693,371 shares of the financial services provider’s stock worth $1,039,754,000 after purchasing an additional 257,030 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Chubb by 5.1% during the first quarter. JPMorgan Chase & Co. now owns 6,318,646 shares of the financial services provider’s stock worth $705,729,000 after purchasing an additional 309,291 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Several equities research analysts recently weighed in on the company. MKM Partners decreased their price target on Chubb from $170.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $150.00 price target on shares of Chubb in a report on Tuesday. Wells Fargo & Co reissued a “buy” rating and issued a $150.00 target price (up previously from $142.00) on shares of Chubb in a report on Monday. Piper Sandler raised their target price on Chubb from $131.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Finally, Morgan Stanley reduced their target price on Chubb from $127.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $147.63.

In related news, Director Robert W. Scully acquired 9,750 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $102.40 per share, for a total transaction of $998,400.00. Following the transaction, the director now owns 20,723 shares in the company, valued at approximately $2,122,035.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

NYSE:CB opened at $127.86 on Thursday. The company has a market capitalization of $57.40 billion, a PE ratio of 15.98 and a beta of 0.71. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. Chubb Ltd has a 52-week low of $87.35 and a 52-week high of $167.74. The stock has a fifty day simple moving average of $125.33 and a 200-day simple moving average of $131.80.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.01). The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.14 billion. Chubb had a return on equity of 8.69% and a net margin of 10.21%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $2.54 EPS. As a group, equities analysts anticipate that Chubb Ltd will post 9.76 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, June 18th. This is an increase from Chubb’s previous quarterly dividend of $0.75. Chubb’s payout ratio is 30.86%.

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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