Cornerstone Advisors LLC Lowers Stake in Chubb Limited (NYSE:CB)

Cornerstone Advisors LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 11.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,900 shares of the financial services provider’s stock after selling 2,600 shares during the period. Cornerstone Advisors LLC’s holdings in Chubb were worth $5,076,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC acquired a new stake in Chubb during the 2nd quarter worth approximately $963,000. Mirae Asset Global Investments Co. Ltd. grew its position in Chubb by 16.7% in 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. acquired a new position in Chubb in the 1st quarter valued at $984,000. Sierra Summit Advisors LLC purchased a new position in Chubb during the 4th quarter worth $844,000. Finally, Leuthold Group LLC acquired a new stake in shares of Chubb in the 1st quarter worth $3,033,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CB. Morgan Stanley cut their price target 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. JPMorgan Chase & Co. raised their price target on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Barclays began coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. 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. Finally, William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $274.70.

Insider Activity

In related news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chubb news, insider John J. Lupica sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The disclosure for this sale can be found here. Insiders sold a total of 94,836 shares of company stock valued at $27,055,900 over the last 90 days. Insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB stock opened at $288.87 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50 day moving average price is $272.40 and its 200 day moving average price is $262.03. The firm has a market cap of $116.68 billion, a P/E ratio of 12.82, a PEG ratio of 5.59 and a beta of 0.66. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18.

Chubb (NYSE:CB) last issued its quarterly earnings data 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. The business 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%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.92 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Friday, September 13th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

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.