American Century Companies Inc. Acquires 3,014 Shares of Chubb Limited $CB

Key Points

• American Century Companies Inc. has increased its stake in Chubb Limited by 3.3%, owning a total of 94,407 shares valued at approximately $28.5 million as of the end of the most recent quarter.
• Chubb reported earnings per share (EPS) of $6.14 for the last quarter, exceeding analysts' expectations and marking a 6.3% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.97 per share, scheduled to be paid on October 3rd, representing an annualized dividend yield of 1.4%.

American Century Companies Inc. lifted its position in Chubb Limited (NYSE:CB - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,407 shares of the financial services provider's stock after acquiring an additional 3,014 shares during the quarter. American Century Companies Inc.'s holdings in Chubb were worth $28,510,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its holdings in shares of Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares in the last quarter. GAMMA Investing LLC raised its position in Chubb by 36,831.3% during the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after buying an additional 2,078,390 shares during the period. Nuveen LLC purchased a new stake in Chubb in the 1st quarter worth about $562,221,000. Royal Bank of Canada lifted its stake in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after acquiring an additional 1,403,545 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Chubb during the 4th quarter worth about $336,972,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.5%

CB stock traded down $1.4450 during trading hours on Friday, hitting $277.3750. The company's stock had a trading volume of 1,401,699 shares, compared to its average volume of 1,816,380. The stock has a 50 day moving average price of $276.76 and a two-hundred day moving average price of $282.59. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a market capitalization of $110.59 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion during 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%. Chubb's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.38 EPS. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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

Chubb announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Evercore ISI set a $312.00 target price on shares of Chubb in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Cantor Fitzgerald upgraded Chubb to a "hold" rating in a report on Wednesday, August 13th. 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.com, the company presently has a consensus rating of "Hold" and an average target price of $302.00.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 9,794 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the transaction, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Corbat acquired 425 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate 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.