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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GQG Partners LLC grew its stake in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. GAMMA Investing LLC grew its holdings in Chubb by 36,831.3% during 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 buying an additional 2,078,390 shares in the last quarter. Nuveen LLC bought a new position in Chubb during the first quarter valued at $562,221,000. Royal Bank of Canada grew its position in Chubb by 46.7% in the fourth 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 in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Chubb during the 4th quarter valued at $336,972,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Up 0.5%

NYSE:CB traded up $1.42 during trading hours on Wednesday, reaching $273.42. The company's stock had a trading volume of 499,397 shares, compared to its average volume of 1,788,736. 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 capitalization of $109.01 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The stock has a 50 day moving average price of $276.29 and a two-hundred day moving average price of $282.62. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91.

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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company posted $5.38 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is currently 17.12%.

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

Analyst Ratings Changes

Several brokerages recently commented on CB. Morgan Stanley cut their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research note on Tuesday, May 20th. Citigroup started coverage on Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target for the company. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $321.00 to $298.00 in a report on Monday, July 7th. Finally, Evercore ISI set a $312.00 target price on Chubb in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chubb presently has a consensus rating of "Hold" and an average price target of $302.00.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat bought 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company's stock.

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.