Chubb Limited $CB Shares Sold by McAdam LLC

Key Points

• McAdam LLC reduced its stake in Chubb Limited by 56.6% in the first quarter, now holding 756 shares valued at $228,000.
• Chubb's Board of Directors has approved a $5.00 billion share repurchase plan, indicating a belief that the shares are undervalued.
• The company reported Q2 earnings of $6.14 per share, exceeding analysts' estimates and reflecting a 6.3% revenue increase year-over-year.

McAdam LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 56.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 756 shares of the financial services provider's stock after selling 985 shares during the quarter. McAdam LLC's holdings in Chubb were worth $228,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peoples Bank KS acquired a new position in shares of Chubb during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter worth approximately $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter worth approximately $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the first quarter worth approximately $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb during the first quarter worth approximately $31,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CB. Evercore ISI set a $312.00 price target on Chubb in a research report on Wednesday, July 23rd. HSBC cut Chubb from a "buy" rating to a "hold" rating and dropped their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a report on Wednesday, August 13th. UBS Group dropped their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Finally, Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $302.00.

Chubb Trading Down 1.7%

CB traded down $4.87 during mid-day trading on Friday, hitting $278.02. 2,115,158 shares of the stock were exchanged, compared to its average volume of 1,651,878. The firm's fifty day moving average is $274.38 and its two-hundred day moving average is $283.40. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $110.84 billion, a PE ratio of 12.26, a PEG ratio of 3.14 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the company earned $5.38 EPS. Chubb's revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.97 per share. 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 is presently 17.12%.

Insider Activity

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction dated 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 $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently 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.