APG Asset Management N.V. Sells 17,680 Shares of Chubb Limited $CB

Key Points

• APG Asset Management N.V. reduced its stake in Chubb Limited by 5.7%, holding $81.67 million in stock after selling 17,680 shares during the first quarter.
• Chubb recently announced a quarterly dividend of $0.97 per share, with an annual yield of 1.4%, set to be paid on October 3rd.
• Equities analysts have varied ratings for Chubb, with one Strong Buy, five Buy, eleven Hold, and a consensus target price of $302.00 per share.

APG Asset Management N.V. trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,115 shares of the financial services provider's stock after selling 17,680 shares during the quarter. APG Asset Management N.V. owned 0.07% of Chubb worth $81,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. GQG Partners LLC raised its stake in shares of Chubb by 112.1% during the 1st 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. GAMMA Investing LLC raised its stake in shares of Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock worth $629,357,000 after purchasing an additional 2,078,390 shares during the period. Nuveen LLC bought a new stake in shares of Chubb during the 1st quarter worth $562,221,000. Royal Bank of Canada raised its stake in shares of Chubb by 46.7% during 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 purchasing an additional 1,403,545 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Chubb during the 4th quarter worth $336,972,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Chubb stock traded down $3.1470 during midday trading on Monday, reaching $274.5430. The stock had a trading volume of 1,194,354 shares, compared to its average volume of 1,816,380. The firm's 50-day moving average price is $276.53 and its 200 day moving average price is $282.69. 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 $109.46 billion, a PE ratio of 12.11, a P/E/G 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 announced its quarterly 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 analysts' expectations of $12.53 billion. During the same period in the prior year, the business posted $5.38 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Chubb declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. HSBC cut Chubb from a "buy" rating to a "hold" rating and lowered their target price for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Citigroup initiated coverage on Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price on the stock. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, UBS Group lowered their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $302.00.

Insider Activity

In other news, COO John W. Keogh sold 9,794 shares of the company's 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 sale, the chief operating officer directly owned 247,538 shares in the company, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were bought 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 of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company's stock.

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.