Baldwin Investment Management LLC Boosts Stake in Chubb Limited (NYSE:CB)

Key Points

• Baldwin Investment Management LLC increased its stake in Chubb Limited by 27.7%, acquiring an additional 1,357 shares, bringing its total holdings to 6,262 shares valued at $1,891,000.
• Chubb recently reported earnings of $6.14 per share, surpassing analysts' expectations, and achieved revenue of $14.20 billion for the quarter, a 6.3% increase year-over-year.
• The company announced a quarterly dividend of $0.97, reflecting a positive increase from the previous dividend, with an annualized yield of 1.44%.

Baldwin Investment Management LLC raised its stake in Chubb Limited (NYSE:CB - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,262 shares of the financial services provider's stock after buying an additional 1,357 shares during the period. Baldwin Investment Management LLC's holdings in Chubb were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Peoples Bank KS purchased a new stake in Chubb during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb during the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb during the first quarter valued at approximately $31,000. Finally, Cherry Tree Wealth Management LLC increased its stake in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

CB stock traded down $3.28 during midday trading on Monday, hitting $265.87. 2,541,489 shares of the stock traded hands, compared to its average volume of 1,991,524. The firm has a market cap of $106.54 billion, a P/E ratio of 11.73, a PEG ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.28. The stock's fifty day simple moving average is $283.97 and its 200-day simple moving average is $282.52. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $5.38 earnings per share. On average, 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. Stockholders of record on Friday, June 13th were given a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.46%. Chubb's dividend payout ratio (DPR) is 17.12%.

Chubb declared that its board has authorized a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CB. JPMorgan Chase & Co. raised their price target on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Evercore ISI set a $312.00 price target on shares of Chubb in a report on Wednesday, July 23rd. Morgan Stanley raised their price target on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Chubb has an average rating of "Moderate Buy" and an average price target of $303.14.

Insider Activity

In related news, Director Michael Corbat bought 425 shares of the company's stock in a transaction dated Friday, July 25th. The shares were acquired 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 directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% 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 worth $29,163,135 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

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.