Chubb Limited (NYSE:CB) Shares Sold by Conning Inc.

Conning Inc. lowered its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 24.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,125 shares of the financial services provider's stock after selling 997 shares during the period. Conning Inc.'s holdings in Chubb were worth $944,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peoples Bank KS acquired a new stake in shares of Chubb during the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the first quarter valued at $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the first quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb during the fourth quarter valued at $29,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in shares of Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

Chubb stock opened at $281.99 on Friday. The stock's 50-day moving average is $287.96 and its 200-day moving average is $282.02. The company has a market cap of $113.00 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 3.16 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 12 month low of $251.42 and a 12 month high of $306.91.

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

Chubb announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Chubb Increases Dividend

The business also recently announced 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. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio (DPR) is presently 18.67%.

Insider Activity

In related news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated 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 directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,390 shares of company stock worth $29,163,135. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Piper Sandler increased their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft downgraded 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. Finally, Jefferies Financial Group increased their target price on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Chubb has an average rating of "Moderate Buy" and an average price target of $307.53.

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.

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