Federation des caisses Desjardins du Quebec Has $4.77 Million Stock Holdings in Chubb Limited $CB

Key Points

• The Federation des caisses Desjardins du Quebec reduced its position in Chubb Limited shares by 14.8%, now holding 15,782 shares worth approximately $4.76 million.
• Chubb reported a quarterly EPS of $6.14, exceeding previous estimates, with revenues of $14.20 billion, marking a 6.3% year-over-year increase.
• The company's Board approved a $5 billion stock repurchase plan, reflecting confidence that its shares are undervalued.

Federation des caisses Desjardins du Quebec reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 14.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,782 shares of the financial services provider's stock after selling 2,732 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Chubb were worth $4,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC grew its holdings in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC grew its holdings in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after acquiring an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. increased its position in Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock valued at $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Chubb by 46.7% in the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after acquiring an additional 1,403,545 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Chubb by 9.2% during the fourth quarter. Deutsche Bank AG now owns 3,603,145 shares of the financial services provider's stock worth $995,549,000 after purchasing an additional 302,699 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Chubb

In related news, Director Michael Corbat acquired 425 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.

Chubb Trading Down 0.2%

CB traded down $0.42 during mid-day trading on Tuesday, hitting $277.05. The stock had a trading volume of 1,115,117 shares, compared to its average volume of 1,780,987. The stock's fifty day simple moving average is $274.73 and its 200-day simple moving average is $283.35. The firm has a market capitalization of $110.46 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. 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 (NYSE:CB - Get Free Report) last released its quarterly earnings data 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 business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.38 EPS. As a group, research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

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

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

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.