Raymond James & Associates Has $766.43 Million Stock Position in Chubb Limited (NYSE:CB)

Raymond James & Associates decreased its holdings in Chubb Limited (NYSE:CB) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,657,618 shares of the financial services provider’s stock after selling 393,463 shares during the period. Raymond James & Associates owned about 0.65% of Chubb worth $766,430,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in Chubb during the second quarter valued at $963,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Chubb by 16.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after buying an additional 10,745 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Chubb in the 1st quarter valued at approximately $984,000. Leuthold Group LLC acquired a new position in Chubb in the first quarter worth approximately $3,033,000. Finally, &PARTNERS bought a new position in Chubb during the first quarter valued at approximately $1,267,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

NYSE:CB traded down $0.23 during trading hours on Friday, reaching $301.66. The company had a trading volume of 1,705,625 shares, compared to its average volume of 1,618,688. The firm has a market capitalization of $122.49 billion, a PE ratio of 13.39, a PEG ratio of 5.87 and a beta of 0.66. The stock has a 50-day moving average of $284.79 and a two-hundred day moving average of $267.91. Chubb Limited has a one year low of $205.64 and a one year high of $302.05. 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 (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period last year, the firm posted $4.92 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts forecast that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is 16.16%.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,636 shares of company stock worth $24,874,208. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of several analyst reports. Barclays assumed coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Wells Fargo & Company upped their price target on Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Roth Mkm lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $282.37.

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.