Clark Capital Management Group Inc. Purchases 38,440 Shares of Chubb Limited $CB

Key Points

• Clark Capital Management Group Inc. increased its holdings in Chubb Limited by 7.2% in Q1, now owning 573,241 shares valued at approximately $173 million, making it the firm's 11th largest holding.
• Chubb recently announced a quarterly dividend of $0.97 per share with an annual yield of 1.4%, and initiated a share buyback program worth $5 billion to purchase up to 4.3% of its outstanding shares.
• Analyst ratings for Chubb are mostly conservative, with a consensus rating of "Hold" and an average price target of $302.00, reflecting a mix of buy, hold, and sell recommendations across various research firms.

Clark Capital Management Group Inc. boosted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 573,241 shares of the financial services provider's stock after buying an additional 38,440 shares during the period. Chubb makes up approximately 1.2% of Clark Capital Management Group Inc.'s holdings, making the stock its 11th biggest holding. Clark Capital Management Group Inc. owned 0.14% of Chubb worth $173,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legato Capital Management LLC raised 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 worth $3,080,000 after acquiring an additional 5,582 shares in the last quarter. Jump Financial LLC boosted its position in shares of Chubb by 633.6% in the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock valued at $2,470,000 after acquiring an additional 7,065 shares during the period. Davis Rea LTD. bought a new stake in shares of Chubb in the first quarter valued at about $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 worth $760,853,000 after purchasing an additional 366,559 shares during the period. Finally, 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 worth $13,070,000 after purchasing an additional 1,375 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

CB stock traded up $0.46 during mid-day trading on Tuesday, reaching $277.93. 456,098 shares of the company traded hands, compared to its average volume of 1,777,557. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $110.81 billion, a P/E ratio of 12.25, a P/E/G ratio of 3.13 and a beta of 0.56. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a fifty day moving average price of $274.73 and a 200-day moving average price of $283.35.

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

Chubb declared that its board 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Corbat bought 425 shares of the business's stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup assumed coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price for the company. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a report on Wednesday, August 13th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Wells Fargo & Company dropped their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Finally, HSBC cut Chubb from a "buy" rating to a "hold" rating and dropped their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb has a consensus rating of "Hold" and an average price target of $302.00.

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.