Chubb Limited $CB Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its stake in Chubb Limited by 4.4% during the first quarter, bringing its total ownership to 77,101 shares worth approximately $23.28 million.
• Chubb reported an EPS of $6.14 for its last quarter, exceeding expectations and was accompanied by a 6.3% year-over-year revenue growth to $14.20 billion.
• The company declared a quarterly dividend of $0.97 per share, which indicates a 1.4% dividend yield and a payout ratio of 17.12%.

Martingale Asset Management L P trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,101 shares of the financial services provider's stock after selling 3,562 shares during the period. Martingale Asset Management L P's holdings in Chubb were worth $23,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Peoples Bank KS purchased a new stake in shares of Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth about $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter worth about $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb in the first quarter valued at approximately $31,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Chubb by 391.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock worth $36,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Up 2.1%

Chubb stock opened at $279.4320 on Thursday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. 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 firm has a market capitalization of $111.41 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a 50 day moving average price of $277.15 and a 200 day moving average price of $282.46.

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, topping the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter last year, the firm posted $5.38 earnings per share. Chubb's revenue was up 6.3% compared to the same quarter last year. Research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

Chubb declared that its board has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Evercore ISI set a $312.00 price target on shares of Chubb in a research report on Wednesday, July 23rd. UBS Group cut their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped their price objective on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. One 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 given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $302.00.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh bought 9,810 shares of Chubb stock in a transaction on Friday, June 6th. The stock was purchased at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the purchase, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction 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 transaction, the insider owned 91,180 shares in the company, 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. Insiders own 0.77% of the company's stock.

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.

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