Chubb Limited (NYSE:CB) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Chubb Limited (NYSE:CB - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 116,866 shares of the financial services provider's stock after selling 9,964 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Chubb were worth $35,292,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Demars Financial Group LLC lifted its stake in shares of Chubb by 26,761.4% in the fourth 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 purchasing an additional 5,340,499 shares during the period. Norges Bank acquired a new stake in shares of Chubb in the fourth quarter valued at about $1,169,720,000. Raymond James Financial Inc. acquired a new stake in shares of Chubb in the fourth quarter valued at about $1,158,897,000. GAMMA Investing LLC lifted its stake in shares of Chubb by 36,831.3% in the first 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 period. Finally, Royal Bank of Canada lifted 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 valued at $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

Shares of NYSE CB opened at $283.61 on Monday. The company has a market cap of $113.65 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 3.16 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month 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. The company has a 50-day simple moving average of $287.89 and a 200-day simple moving average of $281.53.

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

Chubb announced that its board has initiated a stock repurchase program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.37%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. Chubb's payout ratio is presently 18.67%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer now directly owns 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on CB. Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their target price on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $307.53.

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.

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