Penserra Capital Management LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Penserra Capital Management LLC lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 110.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,958 shares of the financial services provider's stock after purchasing an additional 3,122 shares during the period. Penserra Capital Management LLC's holdings in Chubb were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CB. California Public Employees Retirement System increased its stake in Chubb by 1.1% during the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock worth $373,110,000 after buying an additional 14,610 shares in the last quarter. Canopy Partners LLC lifted its holdings in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after acquiring an additional 2,340 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Chubb by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after acquiring an additional 366,559 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Chubb by 3.3% in the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Chubb by 9.1% in the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock valued at $166,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Morgan Stanley upped their price objective on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $321.00 to $298.00 in a research report on Monday. Finally, Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Stock Down 0.1%

Shares of NYSE CB traded down $0.27 during mid-day trading on Thursday, hitting $279.73. The company had a trading volume of 421,582 shares, compared to its average volume of 1,739,381. The company has a market capitalization of $112.09 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. 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 Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The business's 50-day simple moving average is $287.67 and its 200 day simple moving average is $282.17.

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

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio (DPR) is presently 18.67%.

Chubb declared that its board has approved a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Chubb

In related 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 value of $1,599,100.78. Following the transaction, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,390 shares of company stock worth $29,163,135. 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.