Jupiter Asset Management Ltd. Sells 27,806 Shares of Chubb Limited (NYSE:CB)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Chubb Limited by 13.7%, selling 27,806 shares in the first quarter, leaving it with 174,729 shares valued at approximately $52.77 million.
• Chubb announced a $5 billion stock buyback program indicating management's belief that the company's shares are undervalued, while also increasing its quarterly dividend from $0.91 to $0.97 per share.
• Analysts have varying opinions on Chubb's stock, with a consensus rating of "Hold" and target prices ranging from $292 to $312, reflecting mixed views on its future performance.

Jupiter Asset Management Ltd. cut its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 13.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,729 shares of the financial services provider's stock after selling 27,806 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Chubb were worth $52,766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after acquiring an additional 91,892 shares in the last quarter. Capital World Investors increased its position in shares of Chubb by 1.9% during the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after acquiring an additional 212,889 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Chubb by 1.5% during the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock valued at $2,457,402,000 after purchasing an additional 131,075 shares in the last quarter. Demars Financial Group LLC lifted its holdings in shares of Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Chubb by 46.7% during the fourth 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. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In other Chubb news, 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 transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% 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, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer directly owned 237,728 shares of the company's stock, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock worth $29,163,135 over the last quarter. Insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI set a $312.00 price target on Chubb in a report on Wednesday, July 23rd. Morgan Stanley upped their price target on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a report on Tuesday, May 20th. UBS Group cut their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $301.50.

Chubb Stock Performance

Shares of NYSE CB opened at $267.40 on Friday. 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 company has a market cap of $106.61 billion, a P/E ratio of 11.80, a P/E/G ratio of 3.02 and a beta of 0.53. The firm's fifty day moving average is $282.23 and its two-hundred day moving average is $282.35. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

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 (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 previous year, the firm posted $5.38 EPS. Chubb's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its board has authorized a stock repurchase program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio (DPR) is presently 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.

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