Brown Advisory Inc. Lowers Stake in Chubb Limited (NYSE:CB)

Brown Advisory Inc. cut its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,955 shares of the financial services provider's stock after selling 197,905 shares during the period. Brown Advisory Inc.'s holdings in Chubb were worth $26,259,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Chubb by 12.8% during the fourth 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 during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Chubb during the 4th quarter worth $205,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Chubb during the 4th quarter worth $1,320,000. Proficio Capital Partners LLC boosted its holdings in shares of Chubb by 50.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,942 shares of the financial services provider's stock worth $813,000 after buying an additional 988 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Chubb by 19.1% during the fourth quarter. Larson Financial Group LLC now owns 673 shares of the financial services provider's stock valued at $186,000 after buying an additional 108 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

CB traded down $2.88 during trading on Friday, reaching $277.66. 1,249,414 shares of the company were exchanged, compared to its average volume of 1,644,801. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company's 50-day moving average is $287.42 and its two-hundred day moving average is $282.21. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $111.27 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 3.12 and a beta of 0.53.

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

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a $0.97 dividend. 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 annualized dividend and a yield of 1.40%. Chubb's dividend payout ratio is currently 18.67%.

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

CB has been the topic of several research reports. Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $321.00 to $298.00 in a research report on Monday. Keefe, Bruyette & Woods upped their price objective on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday. Piper Sandler raised their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. UBS Group upped their price target on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company lifted their price objective on Chubb from $278.00 to $285.00 and gave the stock an "equal weight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer directly owned 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of 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. Over the last three months, insiders sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.77% of the company's stock.

About Chubb

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.