Deutsche Bank AG Sells 103,244 Shares of Chubb Limited (NYSE:CB)

Key Points

• Deutsche Bank AG sold 103,244 shares of Chubb Limited, reducing its ownership by 2.9%, maintaining a total of 3,499,901 shares valued at approximately $1.057 billion.
• Chubb recently increased its quarterly dividend from $0.91 to $0.97, representing an annual yield of 1.4% and a total annualized dividend of $3.88.
• Analysts hold a mixed outlook on Chubb, with one sell rating, ten hold ratings, and four buy ratings, resulting in an average price target of $301.50.

Deutsche Bank AG decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,499,901 shares of the financial services provider's stock after selling 103,244 shares during the period. Deutsche Bank AG owned 0.87% of Chubb worth $1,056,935,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Peoples Bank KS bought a new stake in shares of Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb during the first quarter valued at about $25,000. North Capital Inc. purchased a new position in shares of Chubb in the first quarter valued at about $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the first quarter valued at about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CB shares. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. UBS Group lowered their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Piper Sandler restated a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. 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 analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $301.50.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction on 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 transaction, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Corbat bought 425 shares of the stock in a transaction dated Friday, July 25th. The stock was purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 100,390 shares of company stock worth $29,163,135 over the last three months. 0.77% of the stock is owned by insiders.

Chubb Stock Up 0.7%

Shares of NYSE:CB opened at $269.62 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a 50-day moving average price of $281.03 and a 200 day moving average price of $282.31. The company has a market cap of $107.49 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 3.03 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $5.38 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio is 17.12%.

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

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.

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