Chubb Limited (NYSE:CB) Shares Sold by Tyler Stone Wealth Management

Key Points

• Tyler Stone Wealth Management reduced its stake in Chubb Limited by 38.4% in the first quarter, selling 2,276 shares and holding 3,658 shares valued at approximately $1,105,000.
• Chubb reported $6.14 earnings per share for the last quarter, surpassing estimates, with a total revenue of $14.20 billion, reflecting a year-over-year increase of 6.3%.
• The company's Board of Directors approved a $5 billion stock repurchase program, allowing for the buyback of up to 4.3% of its outstanding shares, indicating confidence in the stock's value.

Tyler Stone Wealth Management reduced its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 38.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,658 shares of the financial services provider's stock after selling 2,276 shares during the period. Tyler Stone Wealth Management's holdings in Chubb were worth $1,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legato Capital Management LLC lifted its position in Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after purchasing an additional 5,582 shares during the period. Davis Rea LTD. acquired a new position in Chubb during the first quarter valued at $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after purchasing an additional 366,559 shares during the period. First Horizon Advisors Inc. lifted its position in Chubb by 3.3% during the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after purchasing an additional 1,375 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in Chubb by 9.1% during the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock valued at $166,000 after purchasing an additional 46 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Down 0.6%

Shares of NYSE CB opened at $274.16 on Friday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The stock has a market cap of $109.30 billion, a PE ratio of 12.09, a P/E/G ratio of 3.11 and a beta of 0.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $277.86 and a 200 day moving average of $282.44.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. Chubb's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.38 EPS. As a group, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

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

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio is currently 17.12%.

Insider Transactions at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company's 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 directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CB has been the subject of a number of research reports. UBS Group decreased their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $302.31.

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.

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