Chubb Limited (NYSE:CB) Shares Sold by LGT Group Foundation

Key Points

• LGT Group Foundation reduced its holdings in Chubb Limited by 14.1%, now owning 192,833 shares worth approximately $58 million.
• Chubb reported $6.14 EPS for the last quarter, exceeding forecasts, with revenues of $14.20 billion, up 6.3% year-over-year.
• The company approved a $5 billion share buyback program, indicating confidence in its stock valuation amidst recent insider trading activities.

LGT Group Foundation trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 192,833 shares of the financial services provider's stock after selling 31,649 shares during the quarter. LGT Group Foundation's holdings in Chubb were worth $58,234,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Demars Financial Group LLC boosted its holdings in shares of Chubb by 26,761.4% in the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after acquiring an additional 5,340,499 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after buying an additional 2,078,390 shares during the last quarter. Nuveen LLC acquired a new position in shares of Chubb in the 1st quarter valued at about $562,221,000. Royal Bank of Canada boosted its stake in shares of Chubb by 46.7% in the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after buying an additional 1,403,545 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Chubb during the fourth quarter worth about $336,972,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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 dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CB shares. UBS Group dropped their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Piper Sandler reissued a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and reduced their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $302.31.

Chubb Stock Performance

CB traded down $1.58 during trading on Friday, reaching $274.16. The company's stock had a trading volume of 1,504,402 shares, compared to its average volume of 2,108,787. The company has a market capitalization of $109.30 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The company's fifty day moving average price is $277.86 and its 200-day moving average price is $282.44. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the company posted $5.38 earnings per share. Chubb's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's dividend payout ratio is 17.12%.

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.