Chubb Limited (NYSE:CB) Shares Sold by First National Trust Co

Key Points

• First National Trust Co reduced its position in Chubb Limited by 12.8% in the first quarter, now holding 9,815 shares valued at approximately $2.96 million.
• Chubb reported earnings of $6.14 per share for the last quarter, surpassing estimates by $0.30 with revenues of $14.20 billion, an increase of 6.3% year-over-year.
• The company has initiated a $5 billion share buyback program to repurchase up to 4.3% of its outstanding shares, indicating management's belief that the stock is undervalued.

First National Trust Co trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,815 shares of the financial services provider's stock after selling 1,443 shares during the period. First National Trust Co's holdings in Chubb were worth $2,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canopy Partners LLC increased its holdings in Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after purchasing an additional 2,340 shares in the last quarter. Legato Capital Management LLC boosted its position in Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after buying an additional 5,582 shares during the last quarter. Davis Rea LTD. purchased a new position in Chubb in the 1st quarter valued at about $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 last quarter. Finally, First Horizon Advisors Inc. boosted its position in Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after buying an additional 1,375 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade 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 can be accessed through this link. Also, Director Michael Corbat purchased 425 shares of the company's stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 over the last quarter. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research report on Tuesday, May 20th. Finally, Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $301.50.

Chubb Stock Performance

NYSE CB traded up $1.36 during trading hours on Friday, reaching $267.40. The company's stock had a trading volume of 3,214,985 shares, compared to its average volume of 2,088,874. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $282.23 and a 200 day simple moving average of $282.45. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The stock has a market cap of $106.61 billion, a PE ratio of 11.80, a PEG ratio of 3.03 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter last year, the company posted $5.38 earnings per share. Chubb's revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio is 17.12%.

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.