First Citizens Bank & Trust Co. Lowers Holdings in Chubb Limited (NYSE:CB)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,489 shares of the financial services provider's stock after selling 1,038 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Chubb were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CB. Peoples Bank KS acquired a new stake in shares of Chubb in the 1st quarter worth $25,000. Sierra Ocean LLC purchased a new position in Chubb in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Chubb during the 4th quarter worth approximately $29,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer now directly owns 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares in the company, valued at approximately $8,644,927.28. This trade represents a 33.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,619 shares of company stock worth $35,758,738 over the last quarter. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CB shares. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods reduced their target price on Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Raymond James restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Finally, UBS Group increased their price objective on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Stock Up 0.4%

Chubb stock traded up $1.26 during trading hours on Thursday, hitting $286.87. The stock had a trading volume of 337,668 shares, compared to its average volume of 1,612,422. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $114.96 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The stock's 50-day moving average price is $287.17 and its 200-day moving average price is $281.77.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

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

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 represents a $3.88 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. Chubb's dividend payout ratio is 18.67%.

Chubb 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.