3,681 Shares in Chubb Limited (NYSE:CB) Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. acquired 3,681 shares of Chubb Limited, valued at approximately $1,112,000, during the 1st quarter.
• Chubb's COO, John W. Keogh, sold a significant 85,083 shares for nearly $24.7 million, marking a 26.36% decrease in his ownership.
• The company's board authorized a stock repurchase plan allowing for the repurchase of up to $5.00 billion in shares, reflecting management's belief in the stock's undervaluation.

iA Global Asset Management Inc. purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,681 shares of the financial services provider's stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Peoples Bank KS acquired a new position in Chubb during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter valued at about $25,000. North Capital Inc. acquired a new position in Chubb during the 1st quarter valued at about $26,000. IMA Advisory Services Inc. acquired a new position in Chubb during the 1st quarter valued at about $31,000. Finally, Cherry Tree Wealth Management LLC lifted its position in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer directly owned 237,728 shares of the company's stock, valued at $68,998,174.72. This trade represents a 26.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat purchased 425 shares of the firm's 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 completion of the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 100,390 shares of company stock valued at $29,163,135 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

Chubb Price Performance

NYSE CB opened at $269.62 on Thursday. The business has a 50 day simple moving average of $281.03 and a 200 day simple moving average of $282.31. Chubb Limited has a 52-week low of $252.16 and a 52-week 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. The stock has a market cap of $107.49 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 3.03 and a beta of 0.53.

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

Chubb declared that its board has authorized a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is 17.12%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CB shares. Evercore ISI set a $312.00 target price on shares of Chubb in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $301.50.

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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