Monetary Management Group Inc. Lowers Stock Holdings in Chubb Limited $CB

Key Points

• Monetary Management Group Inc. reduced its holdings in Chubb Limited by 38.1% in Q1, owning 2,495 shares valued at $753,000 after selling 1,535 shares.
• Chubb announced a quarterly dividend of $0.97 per share to be paid on October 3rd, representing an annualized dividend yield of 1.4%.
• Despite fluctuating analyst ratings, Chubb has a consensus price target of $302.00, with multiple brokerages offering "buy" and "hold" ratings.

Monetary Management Group Inc. lowered its stake in Chubb Limited (NYSE:CB - Free Report) by 38.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,495 shares of the financial services provider's stock after selling 1,535 shares during the period. Monetary Management Group Inc.'s holdings in Chubb were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Peoples Bank KS acquired a new stake in Chubb in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth about $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the 1st quarter worth about $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Chubb during the 1st quarter worth about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Chubb by 254.3% during 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 in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh bought 9,810 shares of the stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the purchase, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 4.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Corbat bought 425 shares of the stock in a transaction on Friday, July 25th. The stock was bought 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. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CB. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Keefe, Bruyette & Woods raised their target price on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Citigroup began coverage on Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Finally, Morgan Stanley cut their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $302.00.

Chubb Stock Performance

CB traded down $1.4450 during trading on Friday, hitting $277.3750. 1,401,699 shares of the stock were exchanged, compared to its average volume of 1,816,380. The firm has a market capitalization of $110.59 billion, a P/E ratio of 12.24, a PEG ratio of 3.13 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 stock has a fifty day moving average price of $276.76 and a two-hundred day moving average price of $282.66. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb declared that its Board of Directors has authorized a stock repurchase plan 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is 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.