Chubb Limited $CB Shares Purchased by MAI Capital Management

Key Points

• MAI Capital Management increased its holdings in Chubb Limited by 1.0%, bringing its total shares to 150,339, valued at approximately $45.4 million.
• Chubb recently reported strong quarterly earnings, with $6.14 EPS, exceeding analysts' expectations and a revenue of $14.2 billion, up 6.3% year-over-year.
• The company has authorized a $5 billion share repurchase program, indicating management's belief that its shares are undervalued.

MAI Capital Management increased its holdings in Chubb Limited (NYSE:CB - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,339 shares of the financial services provider's stock after buying an additional 1,517 shares during the period. MAI Capital Management's holdings in Chubb were worth $45,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Legato Capital Management LLC boosted its holdings in Chubb by 120.9% in the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after purchasing an additional 5,582 shares during the last quarter. Jump Financial LLC boosted its holdings in Chubb by 633.6% in the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock valued at $2,470,000 after purchasing an additional 7,065 shares during the last quarter. Davis Rea LTD. purchased a new stake in Chubb in the first quarter valued at $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Chubb by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after purchasing an additional 366,559 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Chubb by 3.3% in the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after purchasing an additional 1,375 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company's stock.

Chubb Price Performance

Chubb stock traded up $1.70 during midday trading on Thursday, reaching $279.92. The company had a trading volume of 1,112,541 shares, compared to its average volume of 1,780,452. The company has a market capitalization of $111.60 billion, a P/E ratio of 12.35, a P/E/G ratio of 3.10 and a beta of 0.56. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm's fifty day simple moving average is $275.21 and its 200-day simple moving average is $282.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company posted $5.38 EPS. The business's revenue was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in 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 board believes its shares are undervalued.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio (DPR) is 17.12%.

Analyst Ratings Changes

Several analysts recently commented on CB shares. 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 research report on Tuesday, May 20th. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Morgan Stanley lowered their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and lowered their target price for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $302.00.

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.