Fayez Sarofim & Co Has $363.08 Million Stake in Chubb Limited (NYSE:CB)

Key Points

• Fayez Sarofim & Co reduced its stake in Chubb Limited by 4.3% during the first quarter, selling 53,816 shares and now holds approximately 0.30% of the company worth $363 million.
• Chubb recently reported earnings of $6.14 per share, exceeding analysts' expectations by $0.30, with revenue growing by 6.3% year-over-year.
• The company announced a quarterly dividend increase from $0.91 to $0.97, alongside a $5 billion share repurchase program, signaling confidence in its stock value.

Fayez Sarofim & Co decreased its position in Chubb Limited (NYSE:CB - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,202,282 shares of the financial services provider's stock after selling 53,816 shares during the period. Fayez Sarofim & Co owned approximately 0.30% of Chubb worth $363,077,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CB. Legato Capital Management LLC increased its holdings in shares of Chubb by 120.9% in the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after buying an additional 5,582 shares in the last quarter. Davis Rea LTD. purchased a new stake in shares of Chubb during the first quarter worth $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after buying an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Chubb by 9.1% during the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock worth $166,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CB shares. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Piper Sandler restated a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Finally, Keefe, Bruyette & Woods raised their price target 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $301.50.

Chubb Stock Up 0.7%

Shares of Chubb stock traded up $1.99 on Friday, hitting $271.30. The company had a trading volume of 961,053 shares, compared to its average volume of 2,191,179. The stock has a 50-day moving average of $280.01 and a 200-day moving average of $282.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a market capitalization of $108.16 billion, a P/E ratio of 11.97, a P/E/G ratio of 3.05 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $5.38 earnings per share. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

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

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

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the stock in a transaction on 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 in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 85,083 shares of Chubb 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 directly owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.77% of the stock is owned by corporate insiders.

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.