Chubb Limited $CB Shares Sold by HMS Capital Management LLC

Key Points

• HMS Capital Management LLC reduced its holdings in Chubb Limited by 75.8%, owning 2,531 shares worth $764,000 after selling 7,935 shares in the first quarter.
• Chubb recently posted quarterly earnings of $6.14 EPS, exceeding analysts' estimates and reporting a revenue of $14.20 billion, a 6.3% increase year-over-year.
• The company declared a quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, and has authorized a $5.00 billion share buyback program, indicating confidence in its stock value.

HMS Capital Management LLC lowered its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 75.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,531 shares of the financial services provider's stock after selling 7,935 shares during the quarter. HMS Capital Management LLC's holdings in Chubb were worth $764,000 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 lifted its position in Chubb by 12.8% during the fourth 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 stake in shares of Chubb in the 4th quarter worth about $205,000. Bank Pictet & Cie Europe AG purchased a new position in shares of Chubb during the 4th quarter worth about $1,320,000. MML Investors Services LLC boosted its stake in shares of Chubb by 6.8% during the 4th quarter. MML Investors Services LLC now owns 50,971 shares of the financial services provider's stock worth $14,083,000 after purchasing an additional 3,255 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after purchasing an additional 89 shares during the period. Institutional investors own 83.81% of the company's stock.

Chubb Trading Down 0.5%

Chubb stock traded down $1.4450 during trading hours on Friday, hitting $277.3750. The company had a trading volume of 1,401,699 shares, compared to its average volume of 1,895,244. The firm has a market cap of $110.59 billion, a P/E ratio of 12.24, a P/E/G ratio of 3.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a 50-day moving average price of $276.76 and a two-hundred day moving average price of $282.53.

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 for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter in the prior year, the company earned $5.38 EPS. The company's revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors has initiated a share buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors 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 yield of 1.4%. Chubb's dividend payout ratio is presently 17.12%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Corbat bought 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly 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. 0.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and dropped their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Citigroup assumed coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target for the company. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Morgan Stanley dropped their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Chubb currently has an average rating of "Hold" and an average price target of $302.00.

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.