Cullen Capital Management LLC Trims Stock Position in Chubb Limited $CB

Key Points

• Cullen Capital Management trimmed its Chubb stake by 0.6% in the fourth quarter, selling 4,158 shares and ending with 681,729 shares valued at about $212.8 million.
• Chubb reported strong recent results, including Q1 EPS of $6.82 on revenue of $14.93 billion, while analysts expect 26.8 EPS for the full year.
• The insurer raised its quarterly dividend to $1.02 per share from $0.97, bringing the annualized payout to $4.08 and the yield to about 1.2%.

Cullen Capital Management LLC lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 681,729 shares of the financial services provider's stock after selling 4,158 shares during the quarter. Chubb comprises about 2.3% of Cullen Capital Management LLC's holdings, making the stock its 14th biggest holding. Cullen Capital Management LLC owned 0.17% of Chubb worth $212,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CB. Brighton Jones LLC lifted its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb during the 4th quarter worth approximately $205,000. Woodline Partners LP lifted its position in shares of Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock worth $3,805,000 after buying an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after buying an additional 175 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock worth $58,305,000 after buying an additional 17,155 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Up 0.0%

CB stock opened at $328.06 on Friday. The company has a fifty day moving average price of $324.93 and a 200 day moving average price of $318.94. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a market cap of $127.24 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Sell-side analysts expect that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.2%. This is an increase from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio is presently 13.70%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CB. Cantor Fitzgerald restated a "neutral" rating and set a $315.00 price objective on shares of Chubb in a research report on Wednesday, April 22nd. Wolfe Research upped their price target on shares of Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Evercore upped their price target on shares of Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Citizens Jmp upped their price target on shares of Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $349.10.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company's stock.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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