DekaBank Deutsche Girozentrale Reduces Stake in Chubb Limited (NYSE:CB)

DekaBank Deutsche Girozentrale trimmed its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,531 shares of the financial services provider's stock after selling 7,953 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.09% of Chubb worth $104,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Peoples Bank KS bought a new stake in shares of Chubb during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb during the first quarter valued at approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb during the first quarter valued at approximately $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb during the fourth quarter valued at approximately $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CB shares. Keefe, Bruyette & Woods boosted their price objective on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $307.13.

Chubb Stock Performance

NYSE:CB traded down $2.88 during trading on Friday, reaching $277.66. The company's stock had a trading volume of 1,249,414 shares, compared to its average volume of 1,646,171. The firm has a market cap of $111.27 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50 day moving average of $287.42 and a 200-day moving average of $282.25. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is currently 18.67%.

Chubb declared that its Board of Directors has approved a share repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer owned 237,728 shares of the company's stock, valued at $68,998,174.72. This represents a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock worth $29,163,135 in the last ninety days. Insiders own 0.77% of the company's stock.

About Chubb

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.