Chubb Limited (NYSE:CB) Stake Cut by Mattern Capital Management LLC

Mattern Capital Management LLC lessened its holdings in shares of Chubb Limited (NYSE:CB) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,838 shares of the financial services provider’s stock after selling 405 shares during the quarter. Chubb makes up 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Mattern Capital Management LLC’s holdings in Chubb were worth $9,907,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bard Financial Services Inc. boosted its position in Chubb by 3.7% during the first quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares during the last quarter. Rossmore Private Capital lifted its holdings in shares of Chubb by 1.6% during the 4th quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after buying an additional 41 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Chubb by 1.4% in the 1st quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock valued at $774,000 after buying an additional 41 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in Chubb by 4.1% in the second quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock worth $268,000 after buying an additional 41 shares during the last quarter. Finally, Drive Wealth Management LLC raised its position in Chubb by 3.6% during the second quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CB. Bank of America boosted their target price on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley decreased their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays assumed coverage on Chubb in a report on Wednesday. They set an “overweight” rating and a $349.00 target price on the stock. Royal Bank of Canada upped their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $274.70.

Insider Activity at Chubb

In other news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Chubb Trading Up 1.4 %

Shares of CB opened at $290.83 on Thursday. The stock’s 50-day moving average price is $267.76 and its 200 day moving average price is $260.25. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 5.59 and a beta of 0.66. Chubb Limited has a 12-month low of $198.67 and a 12-month high of $291.64.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same period in the prior year, the company posted $4.92 earnings per share. Chubb’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts predict that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. Chubb’s payout ratio is presently 16.16%.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.