Keybank National Association OH Sells 2,423 Shares of Chubb Limited (NYSE:CB)

Keybank National Association OH lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,836 shares of the financial services provider's stock after selling 2,423 shares during the quarter. Keybank National Association OH's holdings in Chubb were worth $10,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Peoples Bank KS bought a new position in Chubb in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the 1st quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb during the 4th quarter worth approximately $29,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after buying an additional 89 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after buying an additional 43 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer directly owned 237,728 shares of the company's stock, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.77% of the company's stock.

Chubb Stock Performance

Chubb stock traded up $1.91 during mid-day trading on Friday, reaching $281.99. The company's stock had a trading volume of 1,523,457 shares, compared to its average volume of 1,637,475. The firm's fifty day moving average price is $287.96 and its two-hundred day moving average price is $282.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a market capitalization of $113.00 billion, a P/E ratio of 13.57, a PEG ratio of 3.16 and a beta of 0.53.

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

Chubb announced that its board has initiated a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.38%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio (DPR) is presently 18.67%.

Analyst Ratings Changes

CB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a research note on Tuesday, May 20th. Piper Sandler raised their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their price target 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. Finally, Wells Fargo & Company raised their price target on shares of Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $307.53.

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.