Benjamin Edwards Inc. Trims Holdings in Chubb Limited (NYSE:CB)

Key Points

• Benjamin Edwards Inc. reduced its stake in Chubb Limited by 6.6%, selling 3,110 shares to hold 44,351 shares valued at approximately $13.39 million.
• Chubb's recent quarterly earnings report surpassed estimates, with $6.14 earnings per share and revenues of $14.20 billion, marking a 6.3% year-over-year revenue increase.
• The company announced a $5.00 billion share repurchase program on May 15th, indicating management's belief that the stock is undervalued.

Benjamin Edwards Inc. lowered its stake in Chubb Limited (NYSE:CB - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,351 shares of the financial services provider's stock after selling 3,110 shares during the quarter. Benjamin Edwards Inc.'s holdings in Chubb were worth $13,394,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CB. Brighton Jones LLC grew its holdings in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb in the 4th quarter valued at about $205,000. Bank Pictet & Cie Europe AG acquired a new stake in Chubb in the 4th quarter valued at about $1,320,000. FIL Ltd lifted its stake in Chubb by 131.0% in the 4th quarter. FIL Ltd now owns 11,160 shares of the financial services provider's stock valued at $3,084,000 after purchasing an additional 6,329 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Chubb in the 4th quarter valued at about $19,893,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CB. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Evercore ISI set a $312.00 price target on shares of Chubb in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their price target 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, July 24th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Citigroup began coverage on shares of Chubb in a research report on Wednesday. They issued a "buy" rating and a $326.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Chubb currently has a consensus rating of "Hold" and a consensus price target of $302.31.

Insiders Place Their Bets

In other news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction 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 sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 over the last 90 days. 0.77% of the stock is owned by company insiders.

Chubb Stock Performance

CB traded up $0.76 during trading on Thursday, reaching $275.80. 1,054,090 shares of the company's stock were exchanged, compared to its average volume of 2,194,648. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $109.96 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The company's fifty day simple moving average is $278.26 and its 200-day simple moving average is $282.43.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly 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 net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the previous year, the firm earned $5.38 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is presently 17.12%.

Chubb declared that its board has approved a share buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in 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 often an indication that the company's board of directors believes its stock is 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.