Great Lakes Advisors LLC Sells 34,350 Shares of Chubb Limited $CB

Key Points

• Great Lakes Advisors LLC reduced its stake in Chubb Limited by 19.8%, selling 34,350 shares during the 1st quarter, leaving it with 139,152 shares valued at approximately $42 million.
• Chubb recently posted better-than-expected quarterly earnings, reporting $6.14 EPS, exceeding analysts' estimates of $5.84, alongside a revenue of $14.20 billion.
• The company has declared a quarterly dividend of $0.97 per share, equating to an annualized dividend yield of 1.4%, with a payout ratio of 17.12%.

Great Lakes Advisors LLC lowered its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,152 shares of the financial services provider's stock after selling 34,350 shares during the quarter. Great Lakes Advisors LLC's holdings in Chubb were worth $42,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CB. Brighton Jones LLC increased its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after purchasing an additional 221 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $205,000. Bank Pictet & Cie Europe AG bought a new position in shares of Chubb during the 4th quarter valued at approximately $1,320,000. Focus Partners Wealth increased its position in shares of Chubb by 72.1% during the 4th quarter. Focus Partners Wealth now owns 29,165 shares of the financial services provider's stock valued at $8,127,000 after purchasing an additional 12,219 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Chubb by 27.2% during the 4th quarter. Gotham Asset Management LLC now owns 50,989 shares of the financial services provider's stock valued at $14,088,000 after purchasing an additional 10,889 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Price Performance

CB opened at $277.32 on Monday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. 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's fifty day simple moving average is $274.97 and its 200-day simple moving average is $283.28. The company has a market capitalization of $110.56 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 3.13 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly 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 return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the company earned $5.38 EPS. The business's revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Chubb announced that its Board of Directors has authorized a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and cut their target price for the company from $317.00 to $300.00 in a research report on Friday, August 1st. Piper Sandler reissued a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. UBS Group cut their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Morgan Stanley cut their price objective on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Finally, Keefe, Bruyette & Woods upped their price objective on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $302.00.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction on 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 transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing 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 dated Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.

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.

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