Legato Capital Management LLC Purchases 5,582 Shares of Chubb Limited (NYSE:CB)

Legato Capital Management LLC increased its holdings in Chubb Limited (NYSE:CB - Free Report) by 120.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,200 shares of the financial services provider's stock after purchasing an additional 5,582 shares during the quarter. Legato Capital Management LLC's holdings in Chubb were worth $3,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Peoples Bank KS purchased a new stake in shares of Chubb in the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the 1st quarter worth $25,000. North Capital Inc. purchased a new position in shares of Chubb in the 1st quarter worth $26,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its holdings in shares of Chubb by 56.6% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction dated Friday, June 6th. The stock was 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 in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% 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 valued at $29,163,135 in the last quarter. Company insiders own 0.86% of the company's stock.

Chubb Stock Performance

NYSE:CB opened at $279.06 on Wednesday. The firm has a market cap of $111.83 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The firm's fifty day moving average price is $286.14 and its 200 day moving average price is $282.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results 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 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 12.37% and a net margin of 15.05%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.38 EPS. On average, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

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

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is currently 18.67%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CB shares. Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a research report on Tuesday, May 20th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $307.13.

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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