Wedbush Securities Inc. Sells 331 Shares of Chubb Limited (NYSE:CB)

Wedbush Securities Inc. lowered its position in Chubb Limited (NYSE:CB) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,936 shares of the financial services provider’s stock after selling 331 shares during the period. Wedbush Securities Inc.’s holdings in Chubb were worth $1,769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CB. Prudential PLC grew its position in Chubb by 48.0% during the second quarter. Prudential PLC now owns 25,863 shares of the financial services provider’s stock valued at $6,597,000 after buying an additional 8,389 shares during the period. PFG Investments LLC increased its stake in shares of Chubb by 40.2% in the 2nd quarter. PFG Investments LLC now owns 2,279 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 654 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Chubb by 4.8% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 1,926 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 89 shares in the last quarter. X Square Capital LLC raised its holdings in Chubb by 1.3% in the 2nd quarter. X Square Capital LLC now owns 3,160 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 41 shares during the period. Finally, Mount Lucas Management LP purchased a new position in Chubb during the second quarter valued at $2,111,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 6,599 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total value of $1,894,308.94. Following the transaction, the executive vice president now owns 84,101 shares of the company’s stock, valued at approximately $24,142,033.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,981 shares of company stock worth $9,504,054. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CB shares. Barclays began coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target for the company. Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley dropped their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America raised their price objective on shares of Chubb from $257.00 to $264.00 and gave the company 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 analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $274.70.

Chubb Trading Up 1.6 %

Shares of CB opened at $292.20 on Tuesday. The stock has a market capitalization of $118.03 billion, a PE ratio of 12.97, a P/E/G ratio of 5.65 and a beta of 0.66. The company’s fifty day moving average is $269.66 and its 200 day moving average is $261.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Limited has a fifty-two week low of $204.15 and a fifty-two week high of $293.27.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the firm posted $4.92 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts expect that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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