Choreo LLC Has $7.41 Million Stock Position in Chubb Limited (NYSE:CB)

Choreo LLC reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,462 shares of the financial services provider's stock after selling 2,869 shares during the quarter. Choreo LLC's holdings in Chubb were worth $7,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Peoples Bank KS bought a new stake in Chubb in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb in the first quarter worth approximately $25,000. North Capital Inc. bought a new stake in Chubb in the first quarter worth approximately $26,000. Cherry Tree Wealth Management LLC grew its position in Chubb by 56.6% in the first 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 in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in 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 worth $34,000 after acquiring an additional 89 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on CB shares. Jefferies Financial Group boosted their target price on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. UBS Group boosted their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Finally, Morgan Stanley boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $302.64.

Chubb Stock Performance

NYSE:CB traded down $0.90 during trading hours on Friday, hitting $269.28. 2,979,052 shares of the company traded hands, compared to its average volume of 2,031,676. The stock has a market capitalization of $107.91 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 3.07 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a 50-day moving average of $284.54 and a 200 day moving average of $282.35. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. The firm 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 business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.38 EPS. On average, analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a dividend of $0.97 per share. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio is presently 17.12%.

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

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% 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. Corporate insiders own 0.77% of the company's stock.

Chubb Company 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.