Ieq Capital LLC Increases Stock Holdings in Chubb Limited $CB

Key Points

• Ieq Capital LLC increased its stake in Chubb Limited by 13.4% during the first quarter, resulting in a total holding of 61,635 shares valued at approximately $18.61 million.
• Chubb reported earnings per share of $6.14 for the last quarter, exceeding estimates and showing a revenue increase of 6.3% compared to the same period last year.
• The company has announced a quarterly dividend of $0.97, with a record date of September 12th and an annual dividend yield of 1.4%.

Ieq Capital LLC increased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 13.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,635 shares of the financial services provider's stock after buying an additional 7,269 shares during the quarter. Ieq Capital LLC's holdings in Chubb were worth $18,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peoples Bank KS purchased a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. North Capital Inc. purchased a new position in shares of Chubb in the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the 1st quarter valued at approximately $31,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake 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 valued at $36,000 after purchasing an additional 94 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

CB stock traded up $1.87 during midday trading on Friday, hitting $275.12. 1,248,361 shares of the stock were exchanged, compared to its average volume of 1,656,635. The stock's 50-day moving average price is $275.77 and its 200-day moving average price is $282.77. The stock has a market cap of $109.69 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 3.10 and a beta of 0.53. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two 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.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $5.38 earnings per share. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared 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 of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is presently 17.12%.

Chubb declared that its board has authorized a stock 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

CB has been the topic of several analyst reports. Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Evercore ISI set a $312.00 target price on Chubb in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. UBS Group reduced their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Finally, Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $302.00.

Insiders Place Their Bets

In related news, Director Michael Corbat purchased 425 shares of the company's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

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.