Chubb Limited (NYSE:CB) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its holdings in Chubb Limited (NYSE:CB - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,382 shares of the financial services provider's stock after selling 2,101 shares during the quarter. Chubb comprises approximately 1.4% of Mattern Capital Management LLC's portfolio, making the stock its 11th biggest position. Mattern Capital Management LLC's holdings in Chubb were worth $10,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Chubb by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock valued at $10,072,097,000 after acquiring an additional 271,648 shares during the period. FMR LLC boosted its holdings in shares of Chubb by 0.6% in the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after acquiring an additional 91,892 shares during the period. Capital World Investors boosted its holdings in shares of Chubb by 1.9% in the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after acquiring an additional 212,889 shares during the period. Capital Research Global Investors boosted its holdings in shares of Chubb by 1.5% in the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock valued at $2,457,402,000 after acquiring an additional 131,075 shares during the period. Finally, Demars Financial Group LLC boosted its holdings in shares of Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after acquiring an additional 878,177 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer now owns 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.86% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CB shares. Keefe, Bruyette & Woods decreased their price objective on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. UBS Group increased their price objective on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Piper Sandler upped their price target on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target for the company in a research note on Wednesday, March 5th. Finally, Hsbc Global Res upgraded Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of "Moderate Buy" and an average target price of $307.53.

Chubb Trading Down 0.5%

NYSE:CB opened at $286.79 on Wednesday. The stock has a fifty day moving average price of $287.92 and a two-hundred day moving average price of $281.60. The stock has a market capitalization of $114.92 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 3.20 and a beta of 0.54. 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 1 year low of $251.42 and a 1 year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.40. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, sell-side analysts anticipate 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 repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is currently 18.67%.

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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