Chubb Limited $CB Shares Sold by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC reduced its stake in Chubb Limited by 3.8%, selling 1,924 shares, and now holds 49,065 shares valued at approximately $14.8 million.
• Chubb reported earnings of $6.14 per share for the last quarter, exceeding estimates by $0.30, alongside a revenue of $14.20 billion, which is a 6.3% increase year-over-year.
• The company announced a $5 billion share repurchase program, signifying management's belief that the stock is undervalued, and declared a quarterly dividend of $0.97 per share.

Gotham Asset Management LLC reduced its position in Chubb Limited (NYSE:CB - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,065 shares of the financial services provider's stock after selling 1,924 shares during the period. Gotham Asset Management LLC's holdings in Chubb were worth $14,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. raised its holdings in 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 acquiring an additional 36 shares in the last quarter. Sunflower Bank N.A. increased its stake in 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 last quarter. Avantax Planning Partners Inc. increased its stake in 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 last quarter. Lincoln Capital LLC increased its stake in 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 last quarter. Finally, HighPoint Advisor Group LLC increased its stake 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 purchasing an additional 40 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction 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 transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.77% of the company's stock.

Chubb Stock Performance

Shares of CB traded down $0.42 during mid-day trading on Tuesday, reaching $277.05. 1,115,251 shares of the company's stock were exchanged, compared to its average volume of 1,781,524. The business's fifty day simple moving average is $274.73 and its 200-day simple moving average is $283.35. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $110.46 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating 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 analyst estimates of $12.53 billion. During the same period last year, the firm posted $5.38 EPS. Chubb's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has approved a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Chubb Announces Dividend

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 given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio (DPR) is 17.12%.

Wall Street Analyst Weigh In

CB has been the topic of several recent analyst reports. 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 note on Tuesday, May 20th. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, UBS Group lowered their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $302.00.

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.