Financial Counselors Inc. Sells 1,413 Shares of Chubb Limited (NYSE:CB)

Financial Counselors Inc. lowered its holdings in Chubb Limited (NYSE:CB - Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,516 shares of the financial services provider's stock after selling 1,413 shares during the period. Chubb comprises 0.9% of Financial Counselors Inc.'s holdings, making the stock its 27th biggest holding. Financial Counselors Inc.'s holdings in Chubb were worth $59,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Demars Financial Group LLC raised its holdings in Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after buying an additional 5,340,499 shares during the period. Norges Bank acquired a new stake in shares of Chubb during the fourth quarter valued at approximately $1,169,720,000. GAMMA Investing LLC lifted its position in shares of Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after acquiring an additional 2,078,390 shares in the last quarter. Royal Bank of Canada boosted its stake in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new position in Chubb during the 4th quarter worth approximately $336,972,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CB shares. UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. JPMorgan Chase & Co. increased their price objective on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Wells Fargo & Company increased their price target on shares of Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Chubb currently has a consensus rating of "Moderate Buy" and a consensus price target of $306.00.

Chubb Stock Down 1.4%

Shares of CB traded down $3.96 during mid-day trading on Monday, hitting $279.84. 1,427,424 shares of the company's stock were exchanged, compared to its average volume of 1,638,242. The stock has a market cap of $112.14 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 3.16 and a beta of 0.53. The firm has a fifty day moving average of $287.96 and a two-hundred day moving average of $282.16. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $251.42 and a twelve month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. On average, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a dividend of $0.97 per share. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.39%. Chubb's dividend payout ratio is currently 18.67%.

Chubb declared that its Board of Directors has approved a stock repurchase program on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer owned 237,728 shares in the company, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,390 shares of company stock worth $29,163,135 over the last three months. 0.86% of the stock is owned by company insiders.

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.