Calamos Advisors LLC Sells 28,165 Shares of Chubb Limited (NYSE:CB)

Calamos Advisors LLC lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,345 shares of the financial services provider's stock after selling 28,165 shares during the period. Calamos Advisors LLC's holdings in Chubb were worth $59,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Peoples Bank KS bought a new position in Chubb during the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Chubb during the first quarter worth about $25,000. North Capital Inc. bought a new position in Chubb during the first quarter worth about $26,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb during the fourth quarter worth approximately $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after purchasing an additional 89 shares during the period. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling

In related news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction on 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 sale, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the business's 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 completion of the sale, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% 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 three months. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CB. Jefferies Financial Group raised their target price on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods decreased their price target on Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company raised their price target on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley raised their price target on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $307.53.

Chubb Price Performance

Shares of NYSE CB traded up $1.91 during midday trading on Friday, reaching $281.99. 1,523,457 shares of the company were exchanged, compared to its average volume of 1,639,089. The stock has a market cap of $113.00 billion, a P/E ratio of 13.57, a PEG ratio of 3.16 and a beta of 0.53. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. 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 stock's 50-day moving average price is $287.96 and its 200-day moving average price is $282.09.

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, topping analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's payout ratio is presently 18.67%.

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.