First Hawaiian Bank Reduces Stock Holdings in Chubb Limited $CB

Key Points

• First Hawaiian Bank has reduced its stake in Chubb Limited by 14.1%, selling 1,016 shares and holding 6,191 shares worth $1,870,000 as of the first quarter.
• Chubb's latest quarterly earnings reported $6.14 earnings per share, exceeding expectations, with revenues of $14.20 billion for the quarter.
• A recent declaration of a quarterly dividend of $0.97 per share will be paid on October 3rd, with a yield of 1.4%.

First Hawaiian Bank lowered its position in Chubb Limited (NYSE:CB - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,191 shares of the financial services provider's stock after selling 1,016 shares during the quarter. First Hawaiian Bank's holdings in Chubb were worth $1,870,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. E Fund Management Co. Ltd. grew its holdings in shares of Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock valued at $291,000 after purchasing an additional 36 shares during the period. Rise Advisors LLC grew its holdings in shares of Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 37 shares during the period. Sunflower Bank N.A. grew its holdings in shares of Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 38 shares during the period. Avantax Planning Partners Inc. grew its holdings in shares of Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares during the period. Finally, Lincoln Capital LLC grew its holdings in shares of Chubb by 0.6% in the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock valued at $2,022,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CB. 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 report on Monday, July 28th. Morgan Stanley lowered their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Keefe, Bruyette & Woods increased their target price 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. Evercore ISI set a $312.00 target price on shares of Chubb in a research note on Wednesday, July 23rd. Finally, Citigroup started coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $302.00.

Insider Activity

In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Down 1.7%

Shares of CB opened at $278.02 on Friday. The stock has a market capitalization of $110.84 billion, a PE ratio of 12.26, a P/E/G ratio of 3.19 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 quick ratio of 0.28 and a current ratio of 0.28. The company's 50-day simple moving average is $274.38 and its 200-day simple moving average is $283.34.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion for 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 business'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 earnings per share. Analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.