Chubb Limited (NYSE:CB) Shares Sold by XXEC Inc.

XXEC Inc. reduced its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 63.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,520 shares of the financial services provider's stock after selling 13,228 shares during the quarter. Chubb makes up approximately 2.0% of XXEC Inc.'s investment portfolio, making the stock its 19th largest position. XXEC Inc.'s holdings in Chubb were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. California Public Employees Retirement System lifted its position in shares of Chubb by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock valued at $373,110,000 after buying an additional 14,610 shares during the last quarter. Canopy Partners LLC boosted its stake in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after acquiring an additional 2,340 shares in the last quarter. Vista Investment Partners II LLC purchased a new position in Chubb in the fourth quarter worth $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 worth $760,853,000 after purchasing an additional 366,559 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Chubb during the fourth quarter worth $1,158,897,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 85,083 shares of the business's 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 sale, the chief operating officer now directly owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. This trade represents a 33.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,553 shares of company stock valued at $40,387,620. 0.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Wells Fargo & Company upped their target price on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Barclays decreased their price objective on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Hsbc Global Res raised shares of Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. HSBC upgraded shares of Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Chubb currently has an average rating of "Moderate Buy" and an average target price of $307.53.

Chubb Stock Performance

NYSE:CB traded down $3.25 during trading hours on Tuesday, reaching $296.68. The company had a trading volume of 2,265,243 shares, compared to its average volume of 1,616,227. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The business's 50 day moving average price is $288.14 and its 200-day moving average price is $281.45. The firm has a market cap of $118.89 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $11.22 billion. Research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 18.67%.

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.