Chubb Limited $CB Stock Position Decreased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC reduced its holdings in Chubb Limited by 17.4% during the first quarter, now owning 61,899 shares valued at approximately $18.7 million.
• Insider trades indicate varying strategies, with Director Michael Corbat increasing his position by purchasing 425 shares, while insider John J. Lupica sold 5,513 shares.
• Chubb Limited recently reported earnings of $6.14 per share, exceeding estimates, and declared a $0.97 quarterly dividend, reflecting a payout ratio of 17.12%.

NewEdge Advisors LLC lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 17.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,899 shares of the financial services provider's stock after selling 13,012 shares during the quarter. NewEdge Advisors LLC's holdings in Chubb were worth $18,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Chubb by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,359 shares of the financial services provider's stock worth $12,487,000 after buying an additional 2,376 shares in the last quarter. Greenline Partners LLC purchased a new position in Chubb in the first quarter worth $1,293,000. DnB Asset Management AS grew its position in Chubb by 13.6% in the first quarter. DnB Asset Management AS now owns 562,263 shares of the financial services provider's stock worth $169,798,000 after acquiring an additional 67,262 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in Chubb by 72.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,550 shares of the financial services provider's stock worth $468,000 after purchasing an additional 650 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in Chubb by 7.2% in the first quarter. Clark Capital Management Group Inc. now owns 573,241 shares of the financial services provider's stock worth $173,113,000 after purchasing an additional 38,440 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Activity

In other news, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of Chubb 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 completion of the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. UBS Group decreased 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. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the company from $317.00 to $300.00 in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research note on Tuesday, May 20th. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock 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 assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $302.00.

Chubb Stock Down 0.2%

Shares of NYSE CB traded down $0.42 during trading hours on Tuesday, hitting $277.05. 1,115,251 shares of the stock were exchanged, compared to its average volume of 1,589,358. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a market cap of $110.46 billion, a PE ratio of 12.87, a PEG ratio of 3.13 and a beta of 0.56. The firm has a fifty day moving average price of $274.73 and a 200-day moving average price of $283.35.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.38 EPS. On average, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has approved a share repurchase plan 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Chubb Announces Dividend

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 given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio (DPR) is presently 17.12%.

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.