Chubb Limited (NYSE:CB) Position Increased by Equitable Trust Co.

Key Points

• Equitable Trust Co. increased its holdings in Chubb Limited by 559.3% during the first quarter, acquiring an additional 6,286 shares, bringing the total to 7,410 shares valued at approximately $2,238,000.
• Chubb recently reported quarterly earnings of $6.14 per share, exceeding estimates, with revenue of $14.20 billion, up 6.3% from the previous year's quarter.
• The company has declared a new quarterly dividend of $0.97 per share, up from the previous $0.91, reflecting a commitment to returning value to shareholders.

Equitable Trust Co. increased its stake in Chubb Limited (NYSE:CB - Free Report) by 559.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,410 shares of the financial services provider's stock after purchasing an additional 6,286 shares during the quarter. Equitable Trust Co.'s holdings in Chubb were worth $2,238,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CB. Peoples Bank KS purchased a new stake in shares of Chubb during the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb in the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in Chubb in the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the first quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in 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 valued at $34,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In related news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the 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 completion of the transaction, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.77% of the company's stock.

Chubb Stock Performance

CB stock traded down $3.28 during trading on Monday, hitting $265.87. 2,541,489 shares of the company's stock traded hands, compared to its average volume of 1,798,728. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The stock has a fifty day moving average price of $284.54 and a two-hundred day moving average price of $282.46. The stock has a market capitalization of $106.54 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

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

Chubb announced that its Board of Directors has authorized a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.

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. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.46%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is currently 17.12%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CB. Piper Sandler restated a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $321.00 to $298.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $303.14.

Chubb Company 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.