TIAA Trust National Association Boosts Holdings in Chubb Limited (NYSE:CB)

Key Points

• TIAA Trust National Association increased its stake in Chubb Limited by 11.7%, owning 12,336 shares valued at $3.72 million as of the end of Q1.
• Chubb's most recent quarterly earnings beat forecasts, reporting $6.14 earnings per share against $5.84 consensus, along with a revenue of $14.20 billion.
• The company has announced a $5 billion stock buyback program and has also increased its quarterly dividend from $0.91 to $0.97 per share.

TIAA Trust National Association raised its holdings in Chubb Limited (NYSE:CB - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,336 shares of the financial services provider's stock after acquiring an additional 1,290 shares during the quarter. TIAA Trust National Association's holdings in Chubb were worth $3,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Peoples Bank KS bought a new stake in Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter valued at $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the first quarter worth about $31,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after buying an additional 43 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the business's 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 completion of the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 in the last 90 days. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Performance

NYSE:CB traded down $0.01 during mid-day trading on Tuesday, hitting $267.73. 1,260,253 shares of the company's stock traded hands, compared to its average volume of 2,247,571. The firm has a 50 day moving average of $281.86 and a two-hundred day moving average of $282.50. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a market capitalization of $106.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. 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 (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 analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The firm's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.38 earnings per share. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has approved a share buyback 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 repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CB shares. Wells Fargo & Company cut their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Evercore ISI set a $312.00 target price on Chubb in a research report on Wednesday, July 23rd. UBS Group dropped their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Keefe, Bruyette & Woods upped their price target on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chubb currently has a consensus rating of "Hold" and an average target price of $301.50.

Chubb 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.