Magnetar Financial LLC reduced its position in shares of Chubb Limited (NYSE:CB – Free Report) by 92.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,291 shares of the financial services provider’s stock after selling 15,863 shares during the quarter. Magnetar Financial LLC’s holdings in Chubb were worth $329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors raised its holdings in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of Chubb in the first quarter valued at $165,932,000. Bank of Nova Scotia lifted its stake in shares of Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after buying an additional 518,535 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada increased their price objective on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. JMP Securities increased their price target on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $274.70.

Check Out Our Latest Report on Chubb

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Evan G. Greenberg sold 30,318 shares of the business’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 transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. 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. 0.86% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of NYSE CB opened at $289.79 on Wednesday. The firm has a market cap of $117.67 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The stock has a fifty day simple moving average of $277.07 and a two-hundred day simple moving average of $264.04. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $204.15 and a 1-year high of $294.18.

Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings data 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. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same quarter last year, the firm posted $4.92 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts anticipate that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

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

About Chubb

(Free Report)

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.

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