Mattern Capital Management LLC Sells 405 Shares of Chubb Limited (NYSE:CB)

Mattern Capital Management LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,838 shares of the financial services provider’s stock after selling 405 shares during the period. Chubb accounts for about 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Mattern Capital Management LLC’s holdings in Chubb were worth $9,907,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in Chubb in the fourth quarter valued at approximately $957,756,000. Capital Research Global Investors lifted its stake in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. Capital World Investors boosted its holdings in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Chubb during the first quarter worth $165,932,000. Finally, Bank of Nova Scotia raised its holdings in shares of Chubb by 198.8% during the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after acquiring an additional 518,535 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Up 1.4 %

CB stock opened at $290.83 on Thursday. The business’s fifty day moving average price is $267.76 and its two-hundred day moving average price is $260.25. The stock has a market capitalization of $118.09 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 5.59 and a beta of 0.66. Chubb Limited has a fifty-two week low of $198.67 and a fifty-two week high of $291.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last issued 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 net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter in the previous year, the company earned $4.92 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors 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 dividend payout ratio (DPR) is currently 16.16%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CB shares. JPMorgan Chase & Co. lifted their price target on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods increased their price objective on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Barclays started coverage on shares of Chubb in a research note on Wednesday. They issued an “overweight” rating and a $349.00 price target for the company. JMP Securities boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Finally, William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $274.70.

Chubb 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.