Chubb Limited $CB Shares Acquired by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its stake in Chubb Limited by 31.3%, now holding 18,650 shares valued at approximately $5.63 million.
• Chubb recently reported a quarterly earnings per share (EPS) of $6.14, surpassing analysts' expectations of $5.84, and its revenue reached $14.20 billion.
• The Board of Directors authorized a $5 billion share buyback program, indicating confidence in the company's stock value and allowing the purchase of up to 4.3% of its shares.

Gabelli Funds LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 31.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,650 shares of the financial services provider's stock after acquiring an additional 4,448 shares during the period. Gabelli Funds LLC's holdings in Chubb were worth $5,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CB. E Fund Management Co. Ltd. raised its stake in Chubb by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after purchasing an additional 36 shares during the period. Sunflower Bank N.A. raised its holdings in shares of Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after buying an additional 38 shares during the period. Avantax Planning Partners Inc. increased its stake in Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after buying an additional 38 shares during the period. Lincoln Capital LLC lifted its position in shares of Chubb by 0.6% during the 1st quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock worth $2,022,000 after purchasing an additional 39 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Chubb by 0.5% in the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock valued at $2,524,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO John W. Keogh purchased 9,810 shares of the business's stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the purchase, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.86% of the company's stock.

Chubb Price Performance

Shares of NYSE:CB traded up $1.21 during trading on Tuesday, hitting $276.28. 840,876 shares of the stock were exchanged, compared to its average volume of 1,783,986. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a market cap of $110.15 billion, a PE ratio of 12.18, a P/E/G ratio of 3.10 and a beta of 0.56. The company has a fifty day moving average price of $275.50 and a two-hundred day moving average price of $282.95. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last released 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the company posted $5.38 EPS. The business's revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its board has approved a stock buyback plan 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 plans are typically a sign that the company's board believes its stock is undervalued.

Chubb Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CB. UBS Group decreased their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday, August 13th. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Finally, Evercore ISI set a $312.00 price objective on shares of Chubb in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $302.00.

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.