Massachusetts Financial Services Co. MA Cuts Stake in Chubb Limited (NYSE:CB)

Massachusetts Financial Services Co. MA decreased its stake in Chubb Limited (NYSE:CB) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,722,514 shares of the financial services provider’s stock after selling 198,832 shares during the period. Chubb makes up 0.8% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 22nd biggest position. Massachusetts Financial Services Co. MA owned 2.16% of Chubb worth $2,515,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of CB. Pathway Financial Advisers LLC purchased a new stake in Chubb during the 1st quarter worth $25,000. Beacon Capital Management LLC boosted its stake in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC bought a new position in shares of Chubb during the second quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in Chubb in the second quarter worth about $28,000. Finally, Kozak & Associates Inc. bought a new stake in Chubb in the third quarter valued at about $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 6,599 shares of Chubb stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the sale, the executive vice president now owns 84,101 shares in the company, valued at $24,142,033.06. The trade was a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction dated 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 approximately $29,676,685.50. This trade represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock worth $23,803,540 over the last 90 days. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. 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. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, JMP Securities boosted their price objective on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $287.37.

Chubb Stock Performance

Shares of CB stock opened at $282.81 on Thursday. The firm has a market cap of $114.00 billion, a P/E ratio of 11.58, a PEG ratio of 6.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The stock’s 50-day moving average is $287.60 and its two-hundred day moving average is $273.95.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.95 earnings per share. Analysts predict that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.29%. Chubb’s payout ratio is currently 14.91%.

About Chubb

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.