Alliancebernstein L.P. Purchases 34,999 Shares of Chubb Limited $CB

Key Points

• Alliancebernstein L.P. increased its stake in Chubb Limited by 3.7%, owning over 991,500 shares valued at approximately $299 million.
• Chubb announced a quarterly dividend of $0.97, which will be paid on October 3rd, resulting in an annualized dividend of $3.88 and a yield of 1.4%.
• Chubb reported earnings per share (EPS) of $6.14 for the last quarter, exceeding estimates of $5.84, with revenue of $14.20 billion, up 6.3% year-over-year.

Alliancebernstein L.P. grew its position in shares of Chubb Limited (NYSE:CB - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 991,521 shares of the financial services provider's stock after acquiring an additional 34,999 shares during the quarter. Alliancebernstein L.P. owned about 0.25% of Chubb worth $299,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. E Fund Management Co. Ltd. lifted its stake in shares of Chubb by 3.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 36 shares during the last quarter. Sunflower Bank N.A. grew its position in Chubb by 4.4% during the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after acquiring an additional 38 shares during the last quarter. Avantax Planning Partners Inc. increased its stake in Chubb by 5.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after purchasing an additional 38 shares during the period. Lincoln Capital LLC lifted its position in Chubb by 0.6% in the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock valued at $2,022,000 after purchasing an additional 39 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Chubb by 0.5% during the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock valued at $2,524,000 after purchasing an additional 40 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the firm'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 transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Corbat bought 425 shares of the stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Up 0.0%

Shares of CB traded up $0.02 on Tuesday, reaching $277.49. The stock had a trading volume of 422,196 shares, compared to its average volume of 1,777,364. 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 Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market capitalization of $110.63 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56. The company has a 50-day simple moving average of $274.73 and a 200-day simple moving average of $283.35.

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

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

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is presently 17.12%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CB shares. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Keefe, Bruyette & Woods boosted their target price on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, HSBC downgraded Chubb from a "buy" rating to a "hold" rating and decreased their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. One equities research 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $302.00.

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.