Chubb Limited (NYSE:CB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,244,793 shares of the financial services provider's stock after selling 81,383 shares during the period. Bank of New York Mellon Corp owned 0.56% of Chubb worth $677,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sunflower Bank N.A. increased its position in Chubb by 4.4% during the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after buying an additional 38 shares in the last quarter. Avantax Planning Partners Inc. grew its holdings in shares of Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after acquiring an additional 38 shares during the period. Tandem Wealth Advisors LLC grew its holdings in shares of Chubb by 3.0% in the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock worth $382,000 after acquiring an additional 40 shares during the period. Unison Advisors LLC grew its holdings in shares of Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock worth $3,742,000 after acquiring an additional 41 shares during the period. Finally, Sage Mountain Advisors LLC grew its holdings in shares of Chubb by 1.7% in the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider's stock worth $682,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Jefferies Financial Group boosted their price objective on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Wells Fargo & Company boosted their price objective on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Morgan Stanley boosted their price objective on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, UBS Group boosted their price objective on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $306.67.

Chubb Stock Down 0.1%

Shares of CB traded down $0.31 during midday trading on Wednesday, hitting $279.64. 1,142,436 shares of the company's stock traded hands, compared to its average volume of 1,741,608. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm's fifty day moving average is $287.80 and its 200-day moving average is $282.19. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $112.06 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53.

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

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.39%. Chubb's dividend payout ratio (DPR) is 18.67%.

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

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction that occurred on 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 sale, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% 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. 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.