Mizuho Securities USA LLC decreased its position in Chubb Limited (NYSE:CB - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,838 shares of the financial services provider's stock after selling 5,692 shares during the period. Mizuho Securities USA LLC's holdings in Chubb were worth $9,011,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Berger Financial Group Inc raised its holdings in shares of Chubb by 5.5% in the 1st quarter. Berger Financial Group Inc now owns 21,571 shares of the financial services provider's stock worth $6,514,000 after purchasing an additional 1,118 shares during the period. Fiduciary Family Office LLC acquired a new position in shares of Chubb in the 1st quarter worth approximately $242,000. True North Advisors LLC acquired a new position in shares of Chubb in the 1st quarter worth approximately $435,000. Lcnb Corp grew its position in shares of Chubb by 3.5% in the 1st quarter. Lcnb Corp now owns 3,635 shares of the financial services provider's stock worth $1,098,000 after acquiring an additional 124 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Chubb during the 1st quarter valued at approximately $1,392,000. Institutional investors and hedge funds own 83.81% of the company's stock.
Insider Buying and Selling
In other news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the business's 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 represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,390 shares of company stock worth $29,163,135. Company insiders own 0.86% of the company's stock.
Analyst Ratings Changes
CB has been the subject of a number of analyst reports. Evercore ISI set a $312.00 price objective on Chubb in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of "Hold" and a consensus target price of $301.50.
Check Out Our Latest Stock Analysis on CB
Chubb Stock Down 0.0%
Shares of NYSE CB traded down $0.12 during mid-day trading on Monday, hitting $271.12. The company had a trading volume of 1,276,299 shares, compared to its average volume of 2,176,768. The company has a market capitalization of $108.09 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The firm has a 50-day simple moving average of $279.44 and a two-hundred day simple moving average of $282.57. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a one year low of $252.16 and a one year high of $306.91.
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. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. Chubb's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.38 EPS. On average, equities analysts expect that Chubb Limited will post 21.52 EPS for the current year.
Chubb announced that its board has authorized a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.
Chubb Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's dividend payout ratio is 17.12%.
Chubb Profile
(
Free Report)
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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