Envestnet Portfolio Solutions Inc. Sells 5,441 Shares of Chubb Limited (NYSE:CB)

Envestnet Portfolio Solutions Inc. reduced its stake in Chubb Limited (NYSE:CB - Free Report) by 25.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 15,759 shares of the financial services provider's stock after selling 5,441 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Chubb were worth $4,759,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its position in Chubb by 28.2% in the first quarter. Global X Japan Co. Ltd. now owns 2,270 shares of the financial services provider's stock worth $686,000 after buying an additional 500 shares during the last quarter. Bigelow Investment Advisors LLC bought a new position in shares of Chubb during the 1st quarter worth $203,000. BostonPremier Wealth LLC bought a new position in shares of Chubb during the 1st quarter worth $400,000. Community Bank N.A. increased its holdings in Chubb by 3.0% in the 1st quarter. Community Bank N.A. now owns 14,999 shares of the financial services provider's stock worth $4,529,000 after acquiring an additional 436 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Chubb by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 43,669 shares of the financial services provider's stock valued at $13,187,000 after acquiring an additional 905 shares during the period. Institutional investors own 83.81% of the company's stock.

Insider Activity

In related news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Shares of CB traded up $0.54 during trading hours on Monday, reaching $284.36. 405,633 shares of the company's stock traded hands, compared to its average volume of 1,609,366. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $113.95 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 3.16 and a beta of 0.54. The firm's 50 day simple moving average is $287.89 and its 200-day simple moving average is $281.53.

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

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

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. Chubb's dividend payout ratio is 18.67%.

Analyst Ratings Changes

CB has been the subject of a number of research reports. 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 report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price objective on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a report on Tuesday, May 20th. Jefferies Financial Group lifted their price target on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Finally, HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 target price for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of "Moderate Buy" and an average target price 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.