Chubb Limited $CB Shares Sold by Bank of Hawaii

Key Points

• Bank of Hawaii reduced its stake in Chubb Limited by 25.2%, owning 2,841 shares valued at $858,000 after selling 958 shares in the first quarter.
• Chubb announced a quarterly dividend of $0.97, with a payout ratio of 17.12%, set to be paid on October 3rd, and has a 1.4% dividend yield.
• Several brokerages have downgraded Chubb's stock ratings, with HSBC and UBS Group lowering their price targets and rating from "buy" to "hold."

Bank of Hawaii cut its position in Chubb Limited (NYSE:CB - Free Report) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,841 shares of the financial services provider's stock after selling 958 shares during the quarter. Bank of Hawaii's holdings in Chubb were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in Chubb in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb in the first quarter worth about $25,000. North Capital Inc. purchased a new position in Chubb in the first quarter valued at about $26,000. IMA Advisory Services Inc. purchased a new position in Chubb in the first quarter valued at about $31,000. Finally, Cherry Tree Wealth Management LLC grew its stake in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CB. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. UBS Group dropped their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and cut their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Morgan Stanley decreased their price objective on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, Wells Fargo & Company dropped their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chubb has a consensus rating of "Hold" and a consensus price target of $302.00.

Chubb Trading Down 0.5%

Chubb stock opened at $277.3750 on Monday. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm's 50-day moving average is $276.76 and its 200-day moving average is $282.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $110.59 billion, a P/E ratio of 12.24, a PEG ratio of 3.13 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.38 earnings per share. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

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

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

Insiders Place Their Bets

In related news, Director Michael Corbat bought 425 shares of the company's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

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.

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