Chubb Limited $CB Shares Sold by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Chubb Limited by 5.7%, selling 1,328 shares, which left them with 22,099 shares valued at approximately $6.67 million.
• Chubb announced a quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, and a share buyback plan allowing the repurchase of $5 billion in outstanding shares.
• In its recent quarterly earnings, Chubb reported earnings per share of $6.14, exceeding expectations, and showed a year-over-year revenue increase of 6.3%, totaling $14.20 billion for the quarter.

Northwest & Ethical Investments L.P. lowered its stake in Chubb Limited (NYSE:CB - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,099 shares of the financial services provider's stock after selling 1,328 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Chubb were worth $6,674,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GQG Partners LLC raised its holdings in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after buying an additional 4,964,298 shares during the period. Demars Financial Group LLC raised its holdings in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after buying an additional 878,177 shares during the period. Royal Bank of Canada raised its holdings in Chubb by 46.7% during the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after buying an additional 1,403,545 shares during the period. Northern Trust Corp raised its holdings in Chubb by 15.3% during the 4th quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider's stock worth $1,084,133,000 after buying an additional 522,049 shares during the period. Finally, Deutsche Bank AG raised its holdings in Chubb by 9.2% during the 4th quarter. Deutsche Bank AG now owns 3,603,145 shares of the financial services provider's stock worth $995,549,000 after buying an additional 302,699 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Activity

In related news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, 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. Insiders have sold 100,390 shares of company stock worth $29,163,135 in the last 90 days. Corporate insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CB. Evercore ISI set a $312.00 target price on Chubb in a report on Wednesday, July 23rd. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. UBS Group dropped their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods upped their target price on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $302.31.

Chubb Trading Down 0.6%

NYSE:CB opened at $274.16 on Monday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $109.30 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The business's 50-day simple moving average is $277.86 and its 200-day simple moving average is $282.54.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter in the previous year, the business posted $5.38 EPS. Chubb's revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has initiated a share buyback 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Chubb Announces Dividend

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 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 payout ratio is 17.12%.

Chubb 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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