American Trust Has $723,000 Position in Chubb Limited $CB

Key Points

• American Trust reduced its stake in Chubb Limited by 64.7%, selling 4,382 shares during the first quarter, leaving it with 2,394 shares valued at $723,000.
• Chubb recently announced a quarterly dividend of $0.97 per share, with an annualized dividend yield of 1.4%, to be paid on October 3rd.
• Chubb's stock performance includes a latest earnings report revealing $6.14 earnings per share, which exceeded analyst expectations, and a quarterly revenue of $14.20 billion, indicating a 6.3% year-over-year increase.

American Trust lowered its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 64.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,394 shares of the financial services provider's stock after selling 4,382 shares during the period. American Trust's holdings in Chubb were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GQG Partners LLC raised its position in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Demars Financial Group LLC raised its position in shares of Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the period. Ameriprise Financial Inc. raised its position in shares of Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the period. Royal Bank of Canada grew its holdings in shares of Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after buying an additional 1,403,545 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock worth $760,853,000 after purchasing an additional 366,559 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CB. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. HSBC lowered Chubb from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Piper Sandler reissued a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Citigroup initiated coverage on Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Chubb currently has an average rating of "Hold" and an average target price of $302.00.

Chubb Trading Down 1.7%

NYSE:CB traded down $4.87 during mid-day trading on Friday, hitting $278.02. The company had a trading volume of 2,115,158 shares, compared to its average volume of 1,621,329. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The business's fifty day moving average is $274.38 and its two-hundred day moving average is $283.40. 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 firm has a market cap of $110.84 billion, a P/E ratio of 12.26, a P/E/G ratio of 3.19 and a beta of 0.56.

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

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.97 dividend. 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 dividend payout ratio is presently 17.12%.

Insider Activity

In related news, Director Michael Corbat bought 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly 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. Corporate insiders own 0.77% of the company's stock.

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.