Chubb Limited (NYSE:CB) Shares Sold by M&T Bank Corp

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

Several other institutional investors have also recently added to or reduced their stakes in the company. Demars Financial Group LLC increased its stake in shares of Chubb by 26,761.4% during 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. Norges Bank acquired a new position in shares of Chubb during the 4th quarter valued at about $1,169,720,000. GAMMA Investing LLC increased 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 acquiring an additional 2,078,390 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Chubb by 46.7% during 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 acquiring an additional 1,403,545 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Chubb during the 4th quarter valued at about $336,972,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CB. 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. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a report on Tuesday, May 20th. Wells Fargo & Company boosted their target price on Chubb from $278.00 to $285.00 and gave the stock an "equal weight" rating in a report on Thursday. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Finally, Morgan Stanley boosted their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Stock Up 0.2%

NYSE CB traded up $0.51 on Thursday, reaching $280.51. The company had a trading volume of 1,675,242 shares, compared to its average volume of 1,645,886. The firm has a market capitalization of $112.41 billion, a PE ratio of 13.50, a P/E/G ratio of 3.11 and a beta of 0.53. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm has a 50-day moving average of $287.67 and a 200-day moving average of $282.17. 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 released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts' consensus estimates 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%. On average, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.97 per share. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio is 18.67%.

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

Insider Activity at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 237,728 shares in the company, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred 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 transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,390 shares of company stock valued at $29,163,135. Company insiders own 0.77% of the company's stock.

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.