Fifth Third Bancorp Sells 14,809 Shares of Chubb Limited (NYSE:CB)

Fifth Third Bancorp reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 174,550 shares of the financial services provider's stock after selling 14,809 shares during the quarter. Fifth Third Bancorp's holdings in Chubb were worth $52,712,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System lifted its position in shares of Chubb by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock worth $373,110,000 after acquiring an additional 14,610 shares during the period. Canopy Partners LLC lifted its position in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock worth $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC acquired a new stake in Chubb during the fourth quarter worth $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 during the period. Finally, Raymond James Financial Inc. bought a new stake in Chubb in the 4th quarter valued at $1,158,897,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CB shares. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Jefferies Financial Group increased their target price on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company boosted their price target on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Chubb presently has an average rating of "Moderate Buy" and an average price target of $307.53.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the transaction, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,856 shares of company stock valued at $35,537,155. 0.77% of the stock is currently owned by insiders.

Chubb Trading Down 0.2%

CB traded down $0.59 during mid-day trading on Monday, reaching $286.20. The stock had a trading volume of 1,272,975 shares, compared to its average volume of 1,615,493. The firm's fifty day simple moving average is $287.96 and its two-hundred day simple moving average is $281.64. The stock has a market capitalization of $114.69 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.36 and a beta of 0.54. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. On average, equities analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, June 13th. Chubb's dividend payout ratio is currently 18.67%.

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