Massachusetts Financial Services Co. MA Has $2.28 Billion Holdings in Chubb Limited (NYSE:CB)

Massachusetts Financial Services Co. MA trimmed its holdings in Chubb Limited (NYSE:CB) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,921,346 shares of the financial services provider’s stock after selling 266,098 shares during the period. Chubb accounts for 0.7% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 28th largest position. Massachusetts Financial Services Co. MA’s holdings in Chubb were worth $2,275,657,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CB. Beacon Capital Management LLC grew its stake in Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in Chubb during the second quarter valued at approximately $26,000. Wellington Shields Capital Management LLC acquired a new position in shares of Chubb during the 1st quarter worth $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chubb during the 4th quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Up 0.1 %

CB opened at $288.87 on Monday. The stock has a market cap of $116.68 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The company has a fifty day moving average of $272.40 and a 200-day moving average of $262.03.

Chubb (NYSE:CB) last posted 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 firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same period last year, the company posted $4.92 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that Chubb Limited will post 21.2 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Barclays assumed coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Roth Mkm upped their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JMP Securities raised their price objective on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $274.70.

Insider Transactions at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares in the company, valued at $12,199,649.18. 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 in the last quarter. 0.86% of the stock is currently owned by company insiders.

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.