Gradient Investments LLC cut its position in shares of Chubb Limited (NYSE:CB - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,093 shares of the financial services provider's stock after selling 1,940 shares during the period. Gradient Investments LLC's holdings in Chubb were worth $14,222,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in Chubb by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock valued at $373,110,000 after buying an additional 14,610 shares during the last quarter. Canopy Partners LLC raised its position in Chubb by 94.4% during the fourth 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 during the period. Vista Investment Partners II LLC purchased a new stake in Chubb during the fourth quarter valued at approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Chubb by 15.4% during the fourth 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 purchasing an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Chubb during the fourth quarter valued at approximately $1,158,897,000. 83.81% of the stock is owned by institutional investors.
Insider Buying and Selling at Chubb
In other news, CEO Evan G. Greenberg sold 25,728 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares of the company's stock, valued at approximately $170,321,922.75. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer now directly owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,553 shares of company stock worth $40,387,620 in the last quarter. 0.77% of the stock is owned by insiders.
Chubb Stock Performance
Shares of CB stock traded down $0.85 during midday trading on Thursday, hitting $290.93. The company had a trading volume of 536,728 shares, compared to its average volume of 1,611,883. The stock has a market cap of $116.58 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company's 50 day simple moving average is $288.02 and its 200 day simple moving average is $281.63. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91.
Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $11.22 billion. Research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.
Chubb declared that its board has approved a stock repurchase program on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.
Chubb Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is 18.67%.
Analyst Upgrades and Downgrades
CB has been the topic of several recent analyst reports. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target on the stock in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. Raymond James reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Jefferies Financial Group increased their price objective on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company increased their price objective on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $307.53.
Get Our Latest Research Report on CB
About Chubb
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Free Report)
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.
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