LSV Asset Management Trims Stock Position in Chubb Limited (NYSE:CB)

LSV Asset Management lessened its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,540 shares of the financial services provider's stock after selling 1,480 shares during the period. LSV Asset Management's holdings in Chubb were worth $19,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CB. IFG Advisory LLC grew its position in Chubb by 4.9% during the first quarter. IFG Advisory LLC now owns 11,222 shares of the financial services provider's stock valued at $3,389,000 after buying an additional 522 shares during the period. TIAA Trust National Association grew its position in Chubb by 11.7% during the first quarter. TIAA Trust National Association now owns 12,336 shares of the financial services provider's stock valued at $3,725,000 after buying an additional 1,290 shares during the period. UNIVEST FINANCIAL Corp grew its position in Chubb by 3.1% during the first quarter. UNIVEST FINANCIAL Corp now owns 1,448 shares of the financial services provider's stock valued at $437,000 after buying an additional 43 shares during the period. Commerce Bank grew its position in Chubb by 1.3% during the first quarter. Commerce Bank now owns 206,569 shares of the financial services provider's stock valued at $62,382,000 after buying an additional 2,557 shares during the period. Finally, MONECO Advisors LLC grew its position in Chubb by 3.2% during the first quarter. MONECO Advisors LLC now owns 1,813 shares of the financial services provider's stock valued at $548,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

NYSE:CB opened at $267.70 on Tuesday. The company's 50-day moving average price is $281.86 and its 200-day moving average price is $282.50. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $106.73 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.03 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91.

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

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

Chubb Increases Dividend

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

Insiders Place Their Bets

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% 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 valued at $29,163,135 over the last ninety days. Company insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on CB shares. Morgan Stanley raised their price target on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. UBS Group dropped their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Finally, HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and dropped their target price for the company from $317.00 to $300.00 in a research report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chubb presently has a consensus rating of "Hold" and a consensus target price of $301.50.

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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