M&T Bank Corp Cuts Stake in Chubb Limited (NYSE:CB)

M&T Bank Corp lowered its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 102,158 shares of the financial services provider's stock after selling 7,919 shares during the period. M&T Bank Corp's holdings in Chubb were worth $30,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb in the 4th quarter worth approximately $205,000. Bank Pictet & Cie Europe AG purchased a new stake in Chubb in the 4th quarter worth approximately $1,320,000. Proficio Capital Partners LLC increased its holdings in Chubb by 50.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,942 shares of the financial services provider's stock worth $813,000 after acquiring an additional 988 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Chubb in the 4th quarter worth approximately $361,000. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CB shares. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday. Jefferies Financial Group increased their target price on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company increased their price objective on shares of Chubb from $278.00 to $285.00 and gave the company an "equal weight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has a consensus rating of "Moderate Buy" and a consensus target price of $307.13.

Chubb Price Performance

Shares of NYSE CB traded down $2.88 during midday trading on Friday, reaching $277.66. 1,249,414 shares of the stock traded hands, compared to its average volume of 1,646,171. The stock has a market capitalization of $111.27 billion, a PE ratio of 13.36, a P/E/G ratio of 3.09 and a beta of 0.53. The company's 50 day moving average is $287.42 and its 200 day moving average is $282.25. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

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

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a $0.97 dividend. The ex-dividend date was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.40%. Chubb's dividend payout ratio (DPR) is currently 18.67%.

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

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.77% of the company's stock.

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.