Bessemer Group Inc. Sells 11,407 Shares of Chubb Limited (NYSE:CB)

Bessemer Group Inc. reduced its stake in Chubb Limited (NYSE:CB - Free Report) by 45.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,880 shares of the financial services provider's stock after selling 11,407 shares during the quarter. Bessemer Group Inc.'s holdings in Chubb were worth $4,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peoples Bank KS bought a new position in shares of Chubb during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb during the first quarter worth $25,000. Crowley Wealth Management Inc. bought a new position in Chubb in the fourth quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC increased its stake in Chubb by 56.6% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after buying an additional 43 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the transaction, the chief operating officer now owns 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company's stock.

Chubb Stock Performance

CB traded up $1.55 during trading hours on Friday, reaching $285.12. The company's stock had a trading volume of 3,782,107 shares, compared to its average volume of 1,624,388. The company's 50-day moving average is $287.84 and its 200-day moving average is $281.76. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The firm has a market cap of $114.26 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, equities analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

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

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, June 13th. Chubb's dividend payout ratio is currently 18.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CB shares. UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Barclays reduced their price target on Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Morgan Stanley raised their price target on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price objective on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Finally, Piper Sandler increased their price objective on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.