Boston Partners Sells 39,080 Shares of Chubb Limited (NYSE:CB)

Key Points

• Boston Partners has reduced its stake in Chubb Limited by 2.2%, now holding 1,724,115 shares valued at approximately $520.2 million.
• Chubb recently increased its quarterly dividend from $0.91 to $0.97 per share, reflecting a commitment to returning value to shareholders.
• Several analysts have downgraded Chubb's stock ratings recently, with a consensus rating of "Hold" and a target price of $301.50.

Boston Partners decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,724,115 shares of the financial services provider's stock after selling 39,080 shares during the period. Boston Partners owned approximately 0.43% of Chubb worth $520,211,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position 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 worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb during the 4th quarter valued at $205,000. Bank Pictet & Cie Europe AG purchased a new stake in Chubb during the 4th quarter valued at $1,320,000. Townsquare Capital LLC increased its stake in shares of Chubb by 21.3% in the 4th quarter. Townsquare Capital LLC now owns 11,245 shares of the financial services provider's stock worth $3,107,000 after purchasing an additional 1,971 shares in the last quarter. Finally, Advisors Capital Management LLC increased its stake in shares of Chubb by 10.0% in the 4th quarter. Advisors Capital Management LLC now owns 3,632 shares of the financial services provider's stock worth $1,004,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer owned 237,728 shares in the company, valued at $68,998,174.72. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,390 shares of company stock valued at $29,163,135. 0.77% of the stock is owned by company insiders.

Chubb Price Performance

Chubb stock traded down $1.58 during trading hours on Friday, hitting $274.16. 1,504,402 shares of the company traded hands, compared to its average volume of 2,108,787. The firm's 50-day simple moving average is $277.86 and its two-hundred day simple moving average is $282.48. The firm has a market cap of $109.30 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. 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 posted 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. The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $5.38 earnings per share. As a group, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's payout ratio is 17.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CB. Wells Fargo & Company dropped their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. UBS Group reduced their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a report on Wednesday. Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Finally, Morgan Stanley raised their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb currently has a consensus rating of "Hold" and an average target price of $302.31.

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.