Chubb Limited (NYSE:CB) Stock Position Decreased by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Chubb Limited by 29.7%, selling 9,241 shares to retain a total of 21,864 shares valued at approximately $6.6 million.
• Chubb recently reported an EPS of $6.14 for the quarter, exceeding analyst expectations, with revenues reaching $14.2 billion, marking a 6.3% year-over-year increase.
• The company declared a quarterly dividend of $0.97 per share, up from the previous $0.91, reflecting a 1.4% dividend yield and a 17.12% payout ratio.

Gulf International Bank UK Ltd reduced its position in shares of Chubb Limited (NYSE:CB - Free Report) by 29.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,864 shares of the financial services provider's stock after selling 9,241 shares during the period. Gulf International Bank UK Ltd's holdings in Chubb were worth $6,602,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Legato Capital Management LLC raised its holdings in Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after acquiring an additional 5,582 shares during the last quarter. Davis Rea LTD. purchased a new stake in shares of Chubb in the first quarter valued at $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Chubb by 15.4% in 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 last quarter. First Horizon Advisors Inc. increased its stake in Chubb by 3.3% in the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Chubb by 9.1% in the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock worth $166,000 after buying an additional 46 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.6%

CB stock traded down $1.58 during trading on Friday, reaching $274.16. The stock had a trading volume of 1,504,402 shares, compared to its average volume of 2,108,787. 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 firm has a fifty day moving average price of $277.86 and a 200 day moving average price of $282.48. The company has a market capitalization of $109.30 billion, a P/E ratio of 12.09, a PEG ratio of 3.09 and a beta of 0.53. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 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 for the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter in the previous year, the firm posted $5.38 earnings per share. The company's revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business 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 (DPR) is presently 17.12%.

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

Wall Street Analyst Weigh In

CB has been the topic of several research analyst reports. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and lowered their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price target 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 sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $302.31.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares of the company's stock, 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. Over the last quarter, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.77% 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.