Commonwealth Equity Services LLC Has $25.94 Million Stake in Chubb Limited (NYSE:CB)

Key Points

• Commonwealth Equity Services LLC increased its stake in Chubb Limited by 6.3% in Q1, now holding 85,909 shares valued at approximately $25.94 million.
• Chubb reported an earnings per share (EPS) of $6.14 in its recent quarterly results, surpassing estimates by $0.30, with revenues reaching $14.2 billion.
• The company announced a dividend increase to $0.97 per share, representing a 1.4% yield and a total annualized dividend payout of $3.88.

Commonwealth Equity Services LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,909 shares of the financial services provider's stock after buying an additional 5,080 shares during the quarter. Commonwealth Equity Services LLC's holdings in Chubb were worth $25,944,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Legato Capital Management LLC boosted 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 purchasing an additional 5,582 shares during the period. Davis Rea LTD. bought a new stake in Chubb during the first quarter worth approximately $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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. First Horizon Advisors Inc. boosted 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. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Chubb by 9.1% during the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock worth $166,000 after buying an additional 46 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CB. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Evercore ISI set a $312.00 price target on Chubb in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. UBS Group cut their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Finally, Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chubb currently has an average rating of "Hold" and a consensus target price of $301.50.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 100,390 shares of company stock worth $29,163,135 over the last 90 days. Insiders own 0.77% of the company's stock.

Chubb Price Performance

Shares of CB stock traded down $0.49 during trading hours on Thursday, hitting $269.14. 1,588,109 shares of the company's stock were exchanged, compared to its average volume of 2,195,535. The stock's 50-day moving average is $280.53 and its 200-day moving average is $282.31. 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 stock has a market cap of $107.31 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

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

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio (DPR) is 17.12%.

Chubb declared that its board has initiated a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.