11,686 Shares in Chubb Limited $CB Purchased by Sciencast Management LP

Key Points

• Sciencast Management LP acquired 11,686 shares of Chubb Limited, valued at approximately $3.5 million, indicating strong interest from institutional investors.
• Chubb announced a quarterly dividend of $0.97 per share, with a dividend yield of 1.4% and a payout ratio of 17.12%.
• The company's recent quarterly earnings surpassed expectations, with $6.14 earnings per share and revenue of $14.20 billion, marking a year-over-year revenue increase of 6.3%.

Sciencast Management LP purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,686 shares of the financial services provider's stock, valued at approximately $3,529,000.

Several other hedge funds have also recently modified their holdings of CB. Financial Strategies Group Inc. grew its stake in Chubb by 7.6% during the 1st quarter. Financial Strategies Group Inc. now owns 26,136 shares of the financial services provider's stock valued at $7,444,000 after acquiring an additional 1,854 shares in the last quarter. United American Securities Inc. d b a UAS Asset Management grew its stake in Chubb by 14.4% during the 1st quarter. United American Securities Inc. d b a UAS Asset Management now owns 46,031 shares of the financial services provider's stock valued at $13,901,000 after acquiring an additional 5,785 shares in the last quarter. Raab & Moskowitz Asset Management LLC purchased a new stake in Chubb during the 1st quarter valued at about $213,000. Rise Advisors LLC grew its stake in Chubb by 4.6% during the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock valued at $254,000 after acquiring an additional 37 shares in the last quarter. Finally, Royal Capital Wealth Management LLC purchased a new stake in Chubb during the 1st quarter valued at about $204,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

Chubb stock opened at $277.32 on Monday. The company's 50 day simple moving average is $274.97 and its 200-day simple moving average is $283.28. The company has a market capitalization of $110.56 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.38 EPS. As a group, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's payout ratio is 17.12%.

Chubb declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research report on Tuesday, May 20th. Citigroup initiated coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $302.00.

Insider Buying and Selling

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

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.

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