Mediolanum International Funds Ltd Sells 9,917 Shares of Chubb Limited (NYSE:CB)

Key Points

• Mediolanum International Funds Ltd decreased its stake in Chubb Limited by 15.1%, selling 9,917 shares, leaving them with 55,840 shares valued at approximately $16.55 million.
• Chubb reported a quarterly earnings per share of $6.14, exceeding analysts' expectations, and noted a revenue increase of 6.3% compared to the previous year.
• The company announced a $5 billion share repurchase plan as part of its strategy to enhance shareholder value and indicated a recent increase in its quarterly dividend.

Mediolanum International Funds Ltd reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,840 shares of the financial services provider's stock after selling 9,917 shares during the period. Mediolanum International Funds Ltd's holdings in Chubb were worth $16,553,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Demars Financial Group LLC grew its position in Chubb by 26,761.4% in 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 purchasing an additional 5,340,499 shares during the last quarter. Norges Bank acquired a new stake in Chubb during the fourth quarter worth about $1,169,720,000. GAMMA Investing LLC raised its holdings in 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. Royal Bank of Canada lifted its position in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after acquiring an additional 1,403,545 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Chubb during the 4th quarter worth approximately $336,972,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Down 0.3%

CB opened at $269.28 on Friday. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The stock has a market capitalization of $107.91 billion, a PE ratio of 11.88, a PEG ratio of 3.08 and a beta of 0.53. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $284.54 and a two-hundred day moving average price of $282.24.

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 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 business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $5.38 earnings per share. Chubb's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.44%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is presently 17.12%.

Insider Buying and Selling at Chubb

In related news, 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 value of $1,599,100.78. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated 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 in the last ninety days. 0.77% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CB shares. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research report on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Morgan Stanley upped their target price on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $302.64.

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.

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