Mycio Wealth Partners LLC Sells 51,456 Shares of Chubb Limited (NYSE:CB)

Key Points

• Mycio Wealth Partners LLC reduced its stake in Chubb Limited by 5.5%, selling 51,456 shares, maintaining it as their largest holding with 888,123 shares worth approximately $268 million.
• Chubb recently declared a quarterly dividend of $0.97, a notable increase from the previous $0.91, indicating a positive performance in the company's financials.
• Analysts have set mixed ratings on Chubb's stock; while Deutsche Bank downgraded it to a "hold" with a target of $303, firms like Keefe, Bruyette & Woods upgraded their target price to $324.

Mycio Wealth Partners LLC decreased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 888,123 shares of the financial services provider's stock after selling 51,456 shares during the quarter. Chubb comprises approximately 63.3% of Mycio Wealth Partners LLC's holdings, making the stock its biggest holding. Mycio Wealth Partners LLC owned approximately 0.22% of Chubb worth $268,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CB. N.E.W. Advisory Services LLC acquired a new position in Chubb in the 1st quarter worth $64,000. Meeder Asset Management Inc. lifted its holdings in Chubb by 79.5% in the 1st quarter. Meeder Asset Management Inc. now owns 271 shares of the financial services provider's stock worth $82,000 after buying an additional 120 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in Chubb by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 9,167 shares of the financial services provider's stock worth $2,768,000 after buying an additional 433 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Chubb by 8.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,829 shares of the financial services provider's stock worth $552,000 after buying an additional 143 shares in the last quarter. Finally, Baldwin Investment Management LLC lifted its holdings in Chubb by 27.7% in the 1st quarter. Baldwin Investment Management LLC now owns 6,262 shares of the financial services provider's stock worth $1,891,000 after buying an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CB. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a report on Tuesday, May 20th. Piper Sandler restated a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. UBS Group cut their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Evercore ISI set a $312.00 target price on shares of Chubb in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $303.14.

Insider Activity

In other news, COO John W. Keogh sold 85,083 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Corbat acquired 425 shares of the company's stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 over the last ninety days. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Performance

NYSE CB opened at $265.87 on Tuesday. 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's fifty day moving average price is $283.97 and its two-hundred day moving average price is $282.52. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm has a market capitalization of $106.54 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

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 (EPS) 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 analyst estimates of $12.53 billion. During the same period in the prior year, the firm posted $5.38 earnings per share. The company's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

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 given a $0.97 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.46%. Chubb's dividend payout ratio is presently 17.12%.

Chubb declared that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

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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