Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 97.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,435 shares of the financial services provider's stock after selling 56,354 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Chubb were worth $433,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Peoples Bank KS acquired a new stake in shares of Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter valued at $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the 1st quarter valued at $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb during the 1st quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Chubb by 254.3% during 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 purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CB. Wells Fargo & Company cut their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Evercore ISI set a $312.00 price target on shares of Chubb in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $302.00.
Read Our Latest Stock Report on CB
Insider Activity
In other news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by company insiders.
Chubb Price Performance
Shares of Chubb stock traded down $1.4450 during trading on Friday, hitting $277.3750. 1,401,699 shares of the company's stock traded hands, compared to its average volume of 1,895,244. 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 firm's fifty day moving average price is $276.76 and its 200 day moving average price is $282.59. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a market cap of $110.59 billion, a PE ratio of 12.24, a PEG ratio of 3.13 and a beta of 0.53.
Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the business earned $5.38 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's payout ratio is 17.12%.
Chubb declared that its board has approved a share buyback 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 purchase 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.
About Chubb
(
Free Report)
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.
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