WASHINGTON TRUST Co Sells 911 Shares of Chubb Limited (NYSE:CB)

WASHINGTON TRUST Co lessened its stake in Chubb Limited (NYSE:CB - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,316 shares of the financial services provider's stock after selling 911 shares during the quarter. WASHINGTON TRUST Co's holdings in Chubb were worth $15,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sunflower Bank N.A. grew its holdings in shares of Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after buying an additional 38 shares during the period. Tandem Wealth Advisors LLC lifted its holdings in Chubb by 3.0% during the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock worth $382,000 after acquiring an additional 40 shares in the last quarter. Unison Advisors LLC grew its stake in Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock valued at $3,742,000 after acquiring an additional 41 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Chubb by 1.6% in the fourth quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider's stock worth $750,000 after acquiring an additional 42 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its holdings in shares of Chubb by 1.7% in the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider's stock worth $682,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CB. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Hsbc Global Res upgraded Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company boosted their target price on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued 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, Chubb presently has an average rating of "Moderate Buy" and an average target price of $307.53.

Insider Activity

In other Chubb news, COO John W. Keogh sold 9,794 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock valued at $29,163,135 in the last ninety days. 0.77% of the stock is currently owned by insiders.

Chubb Stock Performance

Chubb stock traded up $1.91 during midday trading on Thursday, reaching $281.99. 1,523,457 shares of the company's stock were exchanged, compared to its average volume of 1,633,880. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The stock's 50-day simple moving average is $287.90 and its 200 day simple moving average is $281.94. The firm has a market cap of $113.00 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.22 and a beta of 0.53. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91.

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

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 dividend of $0.97 per share. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.38%. Chubb's payout ratio is presently 18.67%.

Chubb announced that its board has authorized a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.