Allianz SE Sells 1,806 Shares of Chubb Limited (NYSE:CB)

Key Points

• Allianz SE reduced its stake in Chubb Limited by 5.2%, selling 1,806 shares during the first quarter, while retaining 32,720 shares valued at approximately $9.88 million.
• Chubb reported an earnings per share (EPS) of $6.14 for the last quarter, exceeding estimates, alongside a revenue of $14.20 billion, up 6.3% year-over-year.
• The company recently announced an increase in its quarterly dividend to $0.97 per share, marking a rise from the previous dividend of $0.91, with a resultant yield of 1.5%.

Allianz SE reduced its stake in Chubb Limited (NYSE:CB - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,720 shares of the financial services provider's stock after selling 1,806 shares during the period. Allianz SE's holdings in Chubb were worth $9,881,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Peoples Bank KS bought a new position in shares of Chubb during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb during the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb during the first quarter valued at approximately $31,000. Finally, Cherry Tree Wealth Management LLC lifted its position in Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CB shares. JPMorgan Chase & Co. increased their target price on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods increased their target price 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. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Chubb currently has an average rating of "Hold" and an average price target of $301.50.

Chubb Trading Up 0.5%

Shares of Chubb stock opened at $267.40 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a fifty day moving average price of $282.23 and a 200 day moving average price of $282.45. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The stock has a market cap of $106.61 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53.

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

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.97 per share. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio (DPR) is 17.12%.

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

Insider Activity at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction 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 sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is owned by company insiders.

Chubb 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.

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