Chubb Limited (NYSE:CB) Shares Sold by Atria Investments Inc

Key Points

• Atria Investments Inc has reduced its stakes in Chubb Limited by 24.9%, now holding 37,009 shares valued at approximately $11.18 million.
• Chubb's shares saw a 0.3% decrease in trading, reaching $269.28, with a market capitalization of $107.91 billion.
• The company approved a $5.00 billion share repurchase program, indicating that its board views the stock as potentially undervalued.

Atria Investments Inc cut its position in Chubb Limited (NYSE:CB - Free Report) by 24.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,009 shares of the financial services provider's stock after selling 12,259 shares during the period. Atria Investments Inc's holdings in Chubb were worth $11,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CB. Demars Financial Group LLC boosted its position in shares of Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the last quarter. Norges Bank bought a new position in shares of Chubb during the fourth quarter worth $1,169,720,000. GAMMA Investing LLC boosted its position in shares of 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 worth $629,357,000 after acquiring an additional 2,078,390 shares during the last quarter. Royal Bank of Canada boosted its position 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 worth $1,217,392,000 after acquiring an additional 1,403,545 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Chubb during the fourth quarter worth $336,972,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CB shares. Morgan Stanley upped their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wells Fargo & Company lowered their price objective on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday. Jefferies Financial Group increased their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Finally, UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.64.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 5,513 shares of the company'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 owned 91,180 shares in the company, valued at $26,447,670.80. This represents 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 through the SEC website. Also, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction that occurred on 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 owned 237,728 shares in the company, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 over the last 90 days. 0.77% of the stock is currently owned by insiders.

Chubb Stock Down 0.3%

Shares of Chubb stock traded down $0.90 on Friday, reaching $269.28. The stock had a trading volume of 2,979,052 shares, compared to its average volume of 2,031,676. The company has a 50 day moving average price of $284.54 and a 200 day moving average price of $282.24. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The stock has a market capitalization of $107.91 billion, a P/E ratio of 11.88, a P/E/G ratio of 3.08 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the previous year, the firm earned $5.38 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 17.12%.

Chubb announced that its Board of Directors has approved a share repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.