Bright Rock Capital Management LLC Decreases Stake in Chubb Limited (NYSE:CB)

Bright Rock Capital Management LLC lessened its stake in Chubb Limited (NYSE:CB - Free Report) by 36.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the financial services provider's stock after selling 20,000 shares during the quarter. Chubb makes up about 1.9% of Bright Rock Capital Management LLC's holdings, making the stock its 21st largest position. Bright Rock Capital Management LLC's holdings in Chubb were worth $9,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CB. ZRC Wealth Management LLC bought a new stake in Chubb during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chubb in the fourth quarter valued at $29,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Chubb during the 4th quarter valued at $32,000. Northwest Financial Advisors bought a new position in shares of Chubb during the 4th quarter worth $33,000. Finally, Naples Money Management LLC purchased a new stake in Chubb in the 4th quarter worth about $34,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

NYSE CB traded down $1.88 during trading hours on Friday, reaching $264.60. 2,452,670 shares of the stock traded hands, compared to its average volume of 1,287,659. The stock has a 50 day simple moving average of $257.74 and a two-hundred day simple moving average of $247.50. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $107.44 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 6.38 and a beta of 0.66.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts' consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $4.41 earnings per share. On average, analysts predict that Chubb Limited will post 21.19 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.91 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.38%. This is an increase from Chubb's previous quarterly dividend of $0.86. Chubb's payout ratio is currently 16.16%.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent research reports. HSBC reaffirmed a "hold" rating and set a $270.00 price objective (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. Citigroup reaffirmed a "neutral" rating and issued a $275.00 price objective (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. JMP Securities reiterated a "market outperform" rating and issued a $280.00 price objective on shares of Chubb in a research note on Monday, April 15th. Bank of America upgraded Chubb from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $244.00 to $266.00 in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada cut their price target on Chubb from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $266.70.

Insider Transactions at Chubb

In other news, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at $11,648,059.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Juan Luis Ortega sold 2,400 shares of the firm's stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the sale, the executive vice president now directly owns 44,632 shares of the company's stock, valued at $11,648,059.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the firm's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,352 shares of company stock worth $9,968,293. Company insiders own 0.86% of the company's stock.

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.