Chubb Limited $CB Stake Reduced by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Chubb Limited by 13.0%, now holding 13,052 shares valued at approximately $3.94 million.
• Analyst ratings for Chubb show a recent downgrade by Barclays and HSBC, with price targets lowered to between $292.00 and $298.00, while one analyst maintained a Strong Buy rating.
• Chubb recently declared a quarterly dividend of $0.97 per share, resulting in an annualized yield of 1.4%.

1832 Asset Management L.P. cut its stake in Chubb Limited (NYSE:CB - Free Report) by 13.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,052 shares of the financial services provider's stock after selling 1,946 shares during the period. 1832 Asset Management L.P.'s holdings in Chubb were worth $3,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Peoples Bank KS acquired a new stake in shares of Chubb in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter valued at about $25,000. North Capital Inc. acquired a new position in Chubb during the 1st quarter valued at about $26,000. IMA Advisory Services Inc. bought a new position in Chubb in the 1st quarter worth about $31,000. Finally, Cherry Tree Wealth Management LLC increased its stake in shares of Chubb by 56.6% in the first 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 during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the subject of several analyst reports. Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Citigroup began coverage on Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price target for the company. UBS Group lowered their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Chubb presently has an average rating of "Hold" and a consensus price target of $302.00.

Chubb Stock Down 0.5%

Shares of CB 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 company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The business's fifty day moving average is $276.76 and its 200-day moving average is $282.66. The stock has a market cap of $110.59 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53.

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, 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 during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the firm posted $5.38 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders 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 yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio is presently 17.12%.

Chubb declared that its Board of Directors has initiated a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Chubb news, COO John W. Keogh bought 9,810 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the acquisition, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred 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 directly owned 91,180 shares of the company's stock, valued at approximately $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. 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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