Chubb Limited (NYSE:CB) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 20.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,691 shares of the financial services provider’s stock after selling 4,252 shares during the quarter. Rock Point Advisors LLC’s holdings in Chubb were worth $4,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CB. Wilkins Investment Counsel Inc. increased its position in shares of Chubb by 1.1% during the second quarter. Wilkins Investment Counsel Inc. now owns 83,336 shares of the financial services provider’s stock worth $21,257,000 after purchasing an additional 888 shares in the last quarter. Williams Financial LLC purchased a new position in shares of Chubb in the second quarter worth about $301,000. J.W. Cole Advisors Inc. boosted its position in Chubb by 195.3% during the second quarter. J.W. Cole Advisors Inc. now owns 8,055 shares of the financial services provider’s stock worth $2,055,000 after acquiring an additional 5,327 shares during the last quarter. Prosperity Consulting Group LLC grew its stake in Chubb by 7.2% during the 2nd quarter. Prosperity Consulting Group LLC now owns 995 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 67 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Chubb by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,044,057 shares of the financial services provider’s stock worth $266,318,000 after purchasing an additional 10,084 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 45,853 shares in the company, valued at $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. Insiders sold 94,836 shares of company stock worth $27,055,900 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $288.87 on Friday. The company has a market cap of $116.68 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $204.15 and a 52 week high of $294.18. The company has a fifty day simple moving average of $272.40 and a two-hundred day simple moving average of $261.97.

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

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb’s dividend payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. JMP Securities boosted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Barclays began coverage on shares of Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Bank of America lifted their target price on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $274.70.

Chubb Company 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.