Royal Bank of Canada Increases Stock Position in Chubb Limited (NYSE:CB)

Royal Bank of Canada lifted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 46.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,406,052 shares of the financial services provider's stock after purchasing an additional 1,403,545 shares during the period. Royal Bank of Canada owned 1.09% of Chubb worth $1,217,392,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in Chubb during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new stake in Chubb during the fourth quarter worth about $29,000. Strategic Financial Concepts LLC purchased a new stake in Chubb during the fourth quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after buying an additional 89 shares during the last quarter. Finally, Human Investing LLC purchased a new stake in Chubb during the fourth quarter worth about $36,000. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Chubb stock traded down $0.04 during midday trading on Monday, reaching $294.29. 1,267,202 shares of the stock were exchanged, compared to its average volume of 1,612,862. The company's fifty day moving average is $288.43 and its 200-day moving average is $280.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The firm has a market cap of $117.93 billion, a PE ratio of 12.95, a PEG ratio of 3.36 and a beta of 0.57. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its board has approved a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is 17.52%.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 12,231 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares of the company's stock, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the transaction, the executive vice president now directly owns 29,194 shares of the company's stock, valued at approximately $8,644,927.28. This represents a 33.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,470 shares of company stock valued at $18,562,730. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $325.00 price objective on shares of Chubb in a report on Wednesday, January 29th. Raymond James restated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Jefferies Financial Group raised their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Morgan Stanley lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $307.86.

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.