Confluence Investment Management LLC Sells 17,748 Shares of Chubb Limited (NYSE:CB)

Confluence Investment Management LLC reduced its stake in Chubb Limited (NYSE:CB - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 558,131 shares of the financial services provider's stock after selling 17,748 shares during the quarter. Chubb makes up approximately 2.4% of Confluence Investment Management LLC's investment portfolio, making the stock its 3rd largest position. Confluence Investment Management LLC owned about 0.14% of Chubb worth $168,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sierra Ocean LLC purchased a new stake in Chubb in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Chubb during the 4th quarter worth $29,000. Strategic Financial Concepts LLC acquired a new stake in shares of Chubb during the 4th quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the period. Finally, Human Investing LLC acquired a new position in Chubb in the fourth quarter valued at about $36,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of Chubb stock traded up $3.19 during trading on Friday, reaching $297.34. The company's stock had a trading volume of 2,483,635 shares, compared to its average volume of 1,617,858. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a market capitalization of $119.15 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The business has a 50 day moving average price of $288.05 and a 200-day moving average price of $281.42.

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

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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. This represents a $3.88 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, June 13th. Chubb's dividend payout ratio (DPR) is 18.67%.

Chubb announced that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CB shares. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. UBS Group boosted their target price on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Hsbc Global Res upgraded Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price objective on the stock in a report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of "Moderate Buy" and a consensus target price of $307.53.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,553 shares of company stock valued at $43,257,220 over the last quarter. Corporate insiders own 0.86% of the company's stock.

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.