Chubb Limited (NYSE:CB) Stock Position Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 61.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,380 shares of the financial services provider's stock after selling 16,498 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Chubb were worth $3,135,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunflower Bank N.A. lifted its position in Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 38 shares during the last quarter. Tandem Wealth Advisors LLC raised its holdings in shares of Chubb by 3.0% during the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock valued at $382,000 after buying an additional 40 shares during the last quarter. Unison Advisors LLC raised its holdings in shares of Chubb by 0.3% during the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock valued at $3,742,000 after buying an additional 41 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Chubb by 1.6% during the fourth quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider's stock worth $750,000 after buying an additional 42 shares during the period. Finally, Sage Mountain Advisors LLC grew its holdings in Chubb by 1.7% in the 4th quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider's stock worth $682,000 after buying an additional 42 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE:CB traded down $2.56 on Tuesday, reaching $283.87. 983,467 shares of the company traded hands, compared to its average volume of 1,612,974. The stock has a market capitalization of $113.76 billion, a PE ratio of 13.77, a P/E/G ratio of 3.19 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company's 50 day moving average is $287.96 and its 200-day moving average is $281.64. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has approved a stock repurchase 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 18.67%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 85,083 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the sale, the chief operating officer now directly owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 12,231 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares in the company, valued at $23,120,374.04. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,108 shares of company stock worth $31,169,977. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on CB shares. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a research report on Tuesday, May 20th. Piper Sandler upped their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their target price on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $307.53.

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.