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Chubb Limited (NYSE:CB) Shares Sold by Chevy Chase Trust Holdings LLC

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Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,737 shares of the financial services provider's stock after selling 1,356 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Chubb were worth $60,017,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CB. Peoples Bank KS purchased a new stake in shares of Chubb during the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in Chubb in the 4th quarter worth approximately $29,000. Cherry Tree Wealth Management LLC grew 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 worth $36,000 after acquiring an additional 43 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of 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 during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction dated 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 now directly owns 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Up 0.5%

Chubb stock traded up $1.55 during trading on Friday, reaching $285.12. 3,782,107 shares of the company's stock were exchanged, compared to its average volume of 1,629,067. The company's 50-day moving average is $287.84 and its two-hundred day moving average is $281.73. 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 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 price-to-earnings ratio of 13.72, a PEG ratio of 3.15 and a beta of 0.54.

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

Chubb announced that its Board of Directors has authorized a stock repurchase 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.36%. Chubb's dividend payout ratio (DPR) is 18.67%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of recent analyst reports. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Morgan Stanley lifted their price target on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Piper Sandler lifted their price target on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a report on Tuesday, May 20th. Finally, UBS Group boosted their target price on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Chubb has an average rating of "Moderate Buy" and an average price target of $307.53.

Read Our Latest Stock Report on Chubb

Chubb Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chubb (NYSE:CB)

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