Evergreen Capital Management LLC Sells 8,338 Shares of Chubb Limited $CB

Key Points

• Evergreen Capital Management LLC reduced its holdings in Chubb Limited by 27.5% during the first quarter, now owning 21,979 shares valued at approximately $6.66 million.
• Chubb's most recent earnings report showed an EPS of $6.14, surpassing estimates and resulting in a year-over-year revenue increase of 6.3%.
• The company announced a quarterly dividend of $0.97 per share, with a payout ratio of 17.12%, and has a share repurchase plan authorized for up to $5 billion.

Evergreen Capital Management LLC decreased its stake in Chubb Limited (NYSE:CB - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,979 shares of the financial services provider's stock after selling 8,338 shares during the period. Evergreen Capital Management LLC's holdings in Chubb were worth $6,663,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Peoples Bank KS bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb in the first quarter valued at approximately $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the first quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $33,000. Institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In other Chubb news, Director Michael Corbat acquired 425 shares of the stock in a transaction dated Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the company'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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company's stock.

Chubb Trading Up 0.5%

Shares of CB traded up $1.37 during mid-day trading on Thursday, reaching $279.59. The company's stock had a trading volume of 349,964 shares, compared to its average volume of 1,776,754. The stock has a market cap of $111.47 billion, a PE ratio of 12.33, a P/E/G ratio of 3.10 and a beta of 0.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company's fifty day moving average price is $275.21 and its two-hundred day moving average price is $282.87.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $5.38 EPS. On average, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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

Chubb Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CB. Wells Fargo & Company lowered their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. UBS Group lowered their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $321.00 to $298.00 in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.