Guggenheim Capital LLC Sells 3,452 Shares of Chubb Limited $CB

Key Points

• Guggenheim Capital LLC reduced its stake in Chubb Limited by 4.9%, selling 3,452 shares to hold a total of 66,618 shares worth $20.12 million.
• Chubb recently announced a quarterly dividend of $0.97 per share, with a record date set for September 12th, representing an annualized yield of 1.4%.
• The company reported $6.14 earnings per share for the last quarter, exceeding analysts' expectations, while also launching a $5 billion stock buyback program.

Guggenheim Capital LLC lessened its position in shares of Chubb Limited (NYSE:CB - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,618 shares of the financial services provider's stock after selling 3,452 shares during the period. Guggenheim Capital LLC's holdings in Chubb were worth $20,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peoples Bank KS bought a new stake in Chubb during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the 1st quarter worth $25,000. North Capital Inc. bought a new position in shares of Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the 1st quarter worth $31,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Chubb by 391.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock worth $36,000 after buying an additional 94 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of the firm's 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 completion of the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.86% of the company's stock.

Chubb Price Performance

CB stock opened at $271.99 on Wednesday. The firm has a market cap of $108.44 billion, a P/E ratio of 12.00, a P/E/G ratio of 3.10 and a beta of 0.53. 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 quick ratio of 0.28 and a current ratio of 0.28. The firm's fifty day moving average is $276.29 and its 200 day moving average is $282.62.

Chubb (NYSE:CB - Get Free Report) last announced 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. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.38 EPS. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has approved a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio (DPR) is 17.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CB shares. UBS Group decreased their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Piper Sandler reissued a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. One equities 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 MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $302.00.

Chubb Company 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.

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