Hancock Whitney Corp Sells 2,009 Shares of Chubb Limited $CB

Key Points

• Hancock Whitney Corp has reduced its holdings in Chubb Limited by 51.6%, now owning 1,884 shares worth approximately $569,000.
• Several institutional investors, including DnB Asset Management AS and AQR Capital Management LLC, have increased their positions in Chubb, contributing to a total of 83.81% institutional ownership in the stock.
• Chubb has recently declared a quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, and authorized a stock buyback plan worth $5.00 billion.

Hancock Whitney Corp lessened its position in Chubb Limited (NYSE:CB - Free Report) by 51.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,884 shares of the financial services provider's stock after selling 2,009 shares during the quarter. Hancock Whitney Corp's holdings in Chubb were worth $569,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Peoples Bank KS acquired a new stake in shares of Chubb during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the first quarter worth approximately $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the first quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Chubb during the first quarter worth approximately $31,000. Finally, 1248 Management LLC acquired a new stake in shares of Chubb during the first quarter worth approximately $31,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts 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 for the company in a report on Monday, July 28th. Wells Fargo & Company reduced their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Citigroup started coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price for the company. Piper Sandler reiterated a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Evercore ISI set a $312.00 target price on shares of Chubb in a research note on Wednesday, July 23rd. One equities research 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $302.00.

Chubb Price Performance

NYSE CB traded down $0.42 on Tuesday, hitting $277.05. 1,115,251 shares of the company were exchanged, compared to its average volume of 1,589,358. The firm has a 50 day moving average of $274.48 and a two-hundred day moving average of $283.31. The company has a market cap of $110.46 billion, a P/E ratio of 12.22, a P/E/G ratio of 3.13 and a beta of 0.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. 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 earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) 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 company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the company posted $5.38 EPS. The company's revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's dividend payout ratio is presently 17.12%.

Chubb declared that its board has initiated a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Corbat purchased 425 shares of Chubb 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 completion of the transaction, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.86% of the company's stock.

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.