Chubb Limited (NYSE:CB) Position Reduced by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance has reduced its stake in Chubb Limited by 9.9% during the first quarter, holding 33,309 shares worth approximately $10.06 million after the reduction.
• Chubb reported a net margin of 16.08% and $6.14 earnings per share for the most recent quarter, exceeding analyst expectations, with revenue increasing 6.3% year-over-year.
• The company's Board of Directors approved a $5 billion share buyback program, which reflects the board's belief that Chubb's stock is currently undervalued.

Independent Advisor Alliance trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,309 shares of the financial services provider's stock after selling 3,661 shares during the quarter. Independent Advisor Alliance's holdings in Chubb were worth $10,059,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CB. Demars Financial Group LLC boosted its position in Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after buying an additional 5,340,499 shares during the period. GAMMA Investing LLC increased its stake in shares of Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after acquiring an additional 2,078,390 shares in the last quarter. Nuveen LLC bought a new stake in Chubb during the 1st quarter valued at $562,221,000. Royal Bank of Canada increased its stake in Chubb by 46.7% during the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after purchasing an additional 1,403,545 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Chubb in the 4th quarter worth $336,972,000. 83.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock worth $29,163,135 in the last quarter. Company insiders own 0.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CB shares. Wells Fargo & Company cut their price target 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. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. Citigroup began coverage on shares of Chubb in a research report on Wednesday. They set a "buy" rating and a $326.00 price target on the stock. Evercore ISI set a $312.00 price objective on Chubb in a research note on Wednesday, July 23rd. Finally, Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $302.31.

Chubb Trading Up 2.0%

Shares of NYSE CB traded up $5.27 during trading on Wednesday, reaching $275.04. The stock had a trading volume of 1,406,400 shares, compared to its average volume of 2,199,226. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a market cap of $109.66 billion, a P/E ratio of 12.13, a PEG ratio of 3.05 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. The business's 50-day moving average price is $278.56 and its 200-day moving average price is $282.43.

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

Chubb declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a $0.97 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 17.12%.

Chubb 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.