Chubb Limited $CB Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC decreased its stake in Chubb Limited by 27.9% during the first quarter, now holding 44,785 shares valued at approximately $13.56 million.
• Chubb reported earnings of $6.14 per share, beating estimates, with a revenue of $14.20 billion, marking a 6.3% year-over-year increase.
• The company's Board approved a $5.00 billion share buyback plan aimed at repurchasing up to 4.3% of its outstanding shares, indicating management's belief that the stock is undervalued.

Curi RMB Capital LLC decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 27.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,785 shares of the financial services provider's stock after selling 17,348 shares during the period. Curi RMB Capital LLC's holdings in Chubb were worth $13,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Peoples Bank KS purchased a new stake in shares of Chubb during the first quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter valued at $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter valued at $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the first quarter valued at $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb during the first quarter valued at $31,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John J. Lupica sold 5,513 shares of the company's 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 transaction, the insider owned 91,180 shares in the company, valued at $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 available through this hyperlink. Also, Director Michael Corbat acquired 425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were bought 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 approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.77% of the company's stock.

Chubb Stock Up 0.1%

Shares of CB traded up $0.35 during mid-day trading on Tuesday, hitting $277.82. 456,098 shares of the company traded hands, compared to its average volume of 1,777,557. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $110.77 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56. The business has a 50 day moving average of $274.73 and a 200 day moving average of $283.35.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) 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 firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the company posted $5.38 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has authorized a stock buyback 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Chubb Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CB shares. Citigroup started coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price for the company. Morgan Stanley lowered their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb has a consensus rating of "Hold" and an average price target of $302.00.

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.