DRW Securities LLC Sells 18,682 Shares of Chubb Limited $CB

Key Points

• DRW Securities LLC drastically reduced its position in Chubb Limited by 96.4%, retaining only 700 shares valued at approximately $211,000.
• In contrast, several institutional investors increased their stakes in Chubb, with Legato Capital Management boosting its position by 120.9% and Jump Financial increasing theirs by 633.6% in the same quarter.
• Chubb reported a quarterly earnings per share (EPS) of $6.14, exceeding estimates and reflecting a 6.3% year-over-year growth in revenue.

DRW Securities LLC lessened its position in shares of Chubb Limited (NYSE:CB - Free Report) by 96.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 700 shares of the financial services provider's stock after selling 18,682 shares during the period. DRW Securities LLC's holdings in Chubb were worth $211,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Peoples Bank KS bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb in the first quarter valued at approximately $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the first quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $33,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Shares of CB traded down $2.56 during trading hours on Friday, reaching $277.32. The stock had a trading volume of 2,523,189 shares, compared to its average volume of 1,507,873. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock has a market capitalization of $110.56 billion, a PE ratio of 12.23, a PEG ratio of 3.13 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company's 50-day moving average is $274.97 and its two-hundred day moving average is $283.17.

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 for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during 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%.Chubb's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $5.38 earnings per share. Research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its Board of Directors has authorized a share buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Chubb Announces Dividend

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

Insider Transactions at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition 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 stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CB shares. UBS Group cut their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Citigroup initiated coverage on Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price for the company. HSBC cut Chubb from a "buy" rating to a "hold" rating and cut their target price for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Finally, Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $302.00.

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.