Third Point Lowers stake in Chubb Ltd (CB)

Chubb Ltd (CB) : Third Point reduced its stake in Chubb Ltd by 2.08% during the most recent quarter end. The investment management company now holds a total of 2,350,000 shares of Chubb Ltd which is valued at $296,875,500 after selling 50,000 shares in Chubb Ltd , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Chubb Ltd makes up approximately 2.67% of Third Point’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management boosted its stake in CB in the latest quarter, The investment management firm added 1,026 additional shares and now holds a total of 31,460 shares of Chubb Ltd which is valued at $3,974,342. Chubb Ltd makes up approx 0.02% of Nuveen Asset Management’s portfolio.Massmutual Trust Co Fsbadv reduced its stake in CB by selling 380 shares or 50.4% in the most recent quarter. The Hedge Fund company now holds 374 shares of CB which is valued at $47,247. Chubb Ltd makes up approx 0.01% of Massmutual Trust Co Fsbadv’s portfolio.California Public Employees Retirement System reduced its stake in CB by selling 38,200 shares or 3.01% in the most recent quarter. The Hedge Fund company now holds 1,231,069 shares of CB which is valued at $154,462,227. Chubb Ltd makes up approx 0.24% of California Public Employees Retirement System’s portfolio.Cg Asset Management boosted its stake in CB in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 15,089 shares of Chubb Ltd which is valued at $1,919,019. Chubb Ltd makes up approx 0.74% of Cg Asset Management’s portfolio. Quantres Asset Management Ltd sold out all of its stake in CB during the most recent quarter. The investment firm sold 2,600 shares of CB which is valued $334,074.

Chubb Ltd opened for trading at $126.1 and hit $127.35 on the upside on Monday, eventually ending the session at $127.08, with a gain of 0.93% or 1.17 points. The heightened volatility saw the trading volume jump to 10,33,685 shares. Company has a market cap of $59,102 M.

On the company’s financial health, Chubb Ltd reported $2.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 4, 2016. Analyst had a consensus of $2.17. The company had revenue of $5995.00 million for the quarter, compared to analysts expectations of $6381.25 million. The company’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.

Investors should note that on Aug 11, 2016, Chubb Ltd announced a cash dividend of $0.6900. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 21, 2016.

Many Wall Street Analysts have commented on Chubb Ltd. Chubb Ltd was Downgraded by Atlantic Equities to ” Underweight” on Jun 16, 2016.

Chubb Ltd formerly ACE Ltd is a Switzerland-based insurance and reinsurance company. The Company offers commercial and personal property and casualty insurance personal accident and supplemental health insurance travel accident insurance specialty coverage insurances recreational marine and aviation insurance agricultural insurance as well as reinsurance and life insurance. It mainly serves multinational companies small and medium-sized enterprises as well as high net worth individuals. The Company maintains executive offices in Zurich New York and London among others and is present in Latin America North America Asia Europe and Africa. It came into being from a merger of ACE Ltd and Chubb Corp.

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