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

Mattern Wealth Management LLC cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 59.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,314 shares of the financial services provider's stock after selling 6,208 shares during the period. Mattern Wealth Management LLC's holdings in Chubb were worth $1,303,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Demars Financial Group LLC increased its position in Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after buying an additional 5,340,499 shares in the last quarter. Norges Bank purchased a new stake in Chubb during the 4th quarter worth about $1,169,720,000. Raymond James Financial Inc. purchased a new stake in Chubb during the 4th quarter worth about $1,158,897,000. GAMMA Investing LLC raised its stake in Chubb by 36,831.3% in 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 purchasing an additional 2,078,390 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after purchasing an additional 1,403,545 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CB. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods reduced their price target on Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Barclays decreased their price objective on Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley upped their target price on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Hsbc Global Res upgraded Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $307.53.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh acquired 9,810 shares of the stock in a transaction on Friday, June 6th. The stock was bought at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the completion of the transaction, the chief operating officer now directly owns 247,538 shares of the company's stock, valued at $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Down 0.5%

CB opened at $286.79 on Wednesday. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The firm has a 50 day moving average price of $287.92 and a 200 day moving average price of $281.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $114.92 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54.

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. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.35%. Chubb's dividend payout ratio (DPR) is 18.67%.

Chubb declared that its Board of Directors has authorized a stock 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.