Chubb Limited (NYSE:CB) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA decreased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 76.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,665 shares of the financial services provider's stock after selling 5,415 shares during the quarter. Banque Pictet & Cie SA's holdings in Chubb were worth $503,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. California Public Employees Retirement System lifted its position in Chubb by 1.1% in 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 lifted its position 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 buying an additional 2,340 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Chubb by 15.4% in 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 buying an additional 366,559 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Chubb by 3.3% in 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 buying an additional 1,375 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Chubb by 9.1% in the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock valued at $166,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Jefferies Financial Group increased their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Wells Fargo & Company increased their price target on shares of Chubb from $278.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday. Piper Sandler increased their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $307.13.

Chubb Stock Up 0.8%

Shares of NYSE:CB traded up $2.13 during trading hours on Monday, reaching $280.18. The stock had a trading volume of 1,017,582 shares, compared to its average volume of 1,643,656. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm's 50 day moving average is $287.42 and its 200-day moving average is $282.28. 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 has a market capitalization of $112.28 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 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 company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Research analysts predict 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 was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.38%. Chubb's dividend payout ratio is presently 18.67%.

Chubb announced that its Board of Directors has authorized a share buyback 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction 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 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 filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction 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 sale, the chief operating officer owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,390 shares of company stock valued at $29,163,135. Company insiders own 0.86% 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.