AGF Management Ltd. Has $91.06 Million Stock Holdings in Chubb Limited (NYSE:CB)

Key Points

• AGF Management Ltd. reduced its stake in Chubb Limited by 2.9%, holding approximately 301,540 shares valued at $91,062,000 after selling 9,072 shares in the first quarter.
• Chubb announced a dividend increase to $0.97 per share, with a 1.4% yield, while also planning a $5.00 billion share repurchase to signal perceived undervaluation.
• Equity analysts have mixed views on Chubb, with a consensus rating of "Hold" and a target price around $301.50, highlighting varying ratings among firms in recent reports.

AGF Management Ltd. reduced its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,540 shares of the financial services provider's stock after selling 9,072 shares during the period. AGF Management Ltd. owned 0.08% of Chubb worth $91,062,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Public Sector Pension Investment Board lifted its holdings in shares of Chubb by 2.4% during the 1st quarter. Public Sector Pension Investment Board now owns 99,656 shares of the financial services provider's stock worth $30,095,000 after acquiring an additional 2,343 shares during the period. SouthState Corp increased its holdings in Chubb by 2.2% in the first quarter. SouthState Corp now owns 56,086 shares of the financial services provider's stock valued at $16,937,000 after buying an additional 1,195 shares during the last quarter. Cobblestone Capital Advisors LLC NY bought a new stake in Chubb in the first quarter valued at about $538,000. Nuveen LLC bought a new stake in Chubb in the first quarter valued at about $562,221,000. Finally, Berger Financial Group Inc increased its holdings in Chubb by 5.5% in the first quarter. Berger Financial Group Inc now owns 21,571 shares of the financial services provider's stock valued at $6,514,000 after buying an additional 1,118 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 over the last 90 days. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. UBS Group reduced their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and dropped their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Finally, Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $302.31.

Chubb Trading Down 0.2%

Shares of Chubb stock traded down $0.62 during mid-day trading on Friday, hitting $275.12. The stock had a trading volume of 616,528 shares, compared to its average volume of 1,782,034. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $109.69 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The firm has a 50-day moving average of $278.26 and a two-hundred day moving average of $282.43. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share 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 analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company's revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $5.38 EPS. Sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

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

Chubb Dividend Announcement

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

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.