Penserra Capital Management LLC Acquires 3,122 Shares of Chubb Limited (NYSE:CB)

Penserra Capital Management LLC increased its holdings in Chubb Limited (NYSE:CB - Free Report) by 110.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,958 shares of the financial services provider's stock after purchasing an additional 3,122 shares during the quarter. Penserra Capital Management LLC's holdings in Chubb were worth $1,797,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in shares of Chubb during the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb in the first quarter worth $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter worth $26,000. Crowley Wealth Management Inc. acquired a new stake in Chubb during the fourth quarter valued at $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of NYSE CB traded down $2.88 during mid-day trading on Friday, hitting $277.66. The company had a trading volume of 1,249,414 shares, compared to its average volume of 1,646,171. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a market cap of $111.27 billion, a P/E ratio of 13.36, a PEG ratio of 3.09 and a beta of 0.53. The business's 50-day simple moving average is $287.42 and its 200-day simple moving average is $282.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a $0.97 dividend. The ex-dividend date was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.40%. Chubb's dividend payout ratio is presently 18.67%.

Chubb declared that its board has initiated a stock repurchase 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 reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CB shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. UBS Group increased their price target on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods upped their price target on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of "Moderate Buy" and an average price target of $307.13.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction 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 sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer directly owned 237,728 shares in the company, 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 three months, insiders have sold 100,390 shares of company stock valued at $29,163,135. Company insiders own 0.77% of the company's stock.

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.