Commerce Bank Boosts Stake in Chubb Limited (NYSE:CB)

Key Points

• Commerce Bank has increased its stake in Chubb Limited by 1.3%, owning approximately 0.05% of the company, valued at $62.38 million.
• Chubb reported an earnings per share of $6.14 for the last quarter, exceeding estimates and showing a year-over-year revenue growth of 6.3%.
• The company declared a quarterly dividend of $0.97, marking an increase from the previous $0.91 dividend, with a current annualized yield of 1.5%.

Commerce Bank boosted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,569 shares of the financial services provider's stock after acquiring an additional 2,557 shares during the quarter. Commerce Bank owned about 0.05% of Chubb worth $62,382,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sunflower Bank N.A. grew its stake in Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after acquiring an additional 38 shares in the last quarter. Avantax Planning Partners Inc. boosted its position in Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after acquiring an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC increased its holdings in shares of Chubb by 3.0% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock valued at $382,000 after acquiring an additional 40 shares during the period. HighPoint Advisor Group LLC raised its holdings in Chubb by 0.5% in the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock worth $2,524,000 after purchasing an additional 40 shares in the last quarter. Finally, Unison Advisors LLC raised its stake in shares of Chubb by 0.3% during the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock worth $3,742,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Price Performance

NYSE CB traded up $1.36 during trading hours on Friday, reaching $267.40. The company's stock had a trading volume of 3,214,985 shares, compared to its average volume of 2,088,874. 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 company's 50-day moving average is $282.23 and its two-hundred day moving average is $282.35. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a market cap of $106.61 billion, a PE ratio of 11.80, a PEG ratio of 3.03 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results 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. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business earned $5.38 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.5%. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is 17.12%.

Chubb announced that its Board of Directors has initiated a share repurchase program 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 purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday. Morgan Stanley lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods raised 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. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $301.50.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Corbat acquired 425 shares of the business's stock in a transaction dated Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is owned by corporate insiders.

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.