Chubb Limited $CB Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC reduced its stake in Chubb Limited by 10% during Q1, now holding 8,514 shares worth approximately $2.57 million.
• Chubb announced a $5 billion stock repurchase program, indicating the board's confidence in the company's valuation.
• Analysts have mixed views on Chubb's stock, with ratings ranging from "Strong Buy" to "Sell," and a consensus target price of $302.

Integrated Wealth Concepts LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,514 shares of the financial services provider's stock after selling 951 shares during the period. Integrated Wealth Concepts LLC's holdings in Chubb were worth $2,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peoples Bank KS purchased a new stake in shares of Chubb during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the first quarter valued at approximately $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb during the first quarter valued at approximately $31,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Down 1.7%

Shares of NYSE:CB traded down $4.87 during midday trading on Friday, reaching $278.02. The company had a trading volume of 2,115,158 shares, compared to its average volume of 1,651,878. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The stock's fifty day moving average price is $274.38 and its 200-day moving average price is $283.41. The stock has a market capitalization of $110.84 billion, a P/E ratio of 12.26, a PEG ratio of 3.14 and a beta of 0.56. Chubb Limited has a one year low of $252.16 and a one year high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.38 earnings per share. Equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal 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 paid a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is presently 17.12%.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael Corbat bought 425 shares of the stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. 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 objective on the stock. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and dropped their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Finally, Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chubb presently has an average rating of "Hold" and a consensus target price 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.