ASR Vermogensbeheer N.V. Takes Position in Chubb Limited (NYSE:CB)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Chubb Limited, purchasing 139,312 shares valued at approximately $42,073,000.
• Chubb recently increased its quarterly dividend from $0.91 to $0.97 per share, reflecting a strong 1.4% dividend yield.
• Analysts have mixed ratings on Chubb, with ten holding a "hold" rating, four a "buy" rating, and one a "strong buy," while the average price target is set at $301.50.

ASR Vermogensbeheer N.V. purchased a new stake in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 139,312 shares of the financial services provider's stock, valued at approximately $42,073,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Sunflower Bank N.A. lifted its position in shares of 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 buying an additional 38 shares during the last quarter. Avantax Planning Partners Inc. raised its position in Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares during the last quarter. Tandem Wealth Advisors LLC raised its position in Chubb by 3.0% in the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 40 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Chubb by 0.5% in 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 last quarter. Finally, Fortitude Advisory Group L.L.C. raised its position in Chubb by 5.6% in the first quarter. Fortitude Advisory Group L.L.C. now owns 798 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded 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. Jefferies Financial Group increased their price target on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. UBS Group decreased their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Finally, HSBC cut Chubb from a "buy" rating to a "hold" rating and decreased their price target for the company from $317.00 to $300.00 in a research note on Friday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb has an average rating of "Hold" and an average price target of $301.50.

Chubb Trading Down 0.0%

NYSE CB opened at $267.73 on Wednesday. The business has a 50 day simple moving average of $281.42 and a 200 day simple moving average of $282.40. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The stock has a market capitalization of $106.74 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping 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 business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter last year, the firm posted $5.38 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. Research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb's payout ratio is presently 17.12%.

Chubb declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer directly owned 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock valued at $29,163,135 over the last 90 days. Insiders own 0.86% of the company's stock.

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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