Canoe Financial LP Sells 1,858 Shares of Chubb Limited (NYSE:CB)

Canoe Financial LP trimmed its holdings in Chubb Limited (NYSE:CB - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 147,769 shares of the financial services provider's stock after selling 1,858 shares during the quarter. Canoe Financial LP's holdings in Chubb were worth $44,625,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CB. Advisor Resource Council bought a new stake in shares of Chubb in the 1st quarter valued at about $346,000. Segment Wealth Management LLC grew its position in Chubb by 191.3% during the 1st quarter. Segment Wealth Management LLC now owns 2,747 shares of the financial services provider's stock worth $830,000 after acquiring an additional 1,804 shares during the last quarter. Compass Ion Advisors LLC purchased a new position in Chubb in the 1st quarter worth approximately $213,000. Brady Family Wealth LLC increased its stake in Chubb by 1.3% in the 1st quarter. Brady Family Wealth LLC now owns 22,173 shares of the financial services provider's stock worth $6,696,000 after purchasing an additional 279 shares during the period. Finally, Proathlete Wealth Management LLC bought a new stake in Chubb in the first quarter valued at approximately $120,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh acquired 9,810 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the completion of the purchase, the chief operating officer now directly owns 247,538 shares of the company's stock, valued at approximately $72,526,158.62. The trade was a 4.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on CB shares. UBS Group increased their price objective on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Barclays lowered their price target on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. Wells Fargo & Company boosted their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group upped their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $307.53.

Chubb Trading Up 0.5%

Shares of NYSE CB traded up $1.46 during midday trading on Friday, hitting $283.61. 2,389,071 shares of the company traded hands, compared to its average volume of 1,614,093. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm has a market cap of $113.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.16 and a beta of 0.54. The stock has a 50-day moving average price of $287.89 and a 200 day moving average price of $281.56. 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 posted its earnings results 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. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. As a group, analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors has authorized a share buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.37%. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. Chubb's dividend 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.