National Bank of Canada FI Buys 9,696 Shares of Chubb Limited (NYSE:CB)

Key Points

• National Bank of Canada FI increased its stake in Chubb Limited by 13.0%, acquiring an additional 9,696 shares and bringing its total to 84,017 shares worth $25.4 million as of the latest reporting period.
• Chubb reported earnings per share (EPS) of $6.14 for the last quarter, exceeding expectations by $0.30, with revenue up 6.3% year-over-year.
• The company announced a $5 billion stock repurchase plan, signaling the board's belief that its shares are undervalued, while also increasing its quarterly dividend from $0.91 to $0.97.

National Bank of Canada FI lifted its stake in Chubb Limited (NYSE:CB - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,017 shares of the financial services provider's stock after buying an additional 9,696 shares during the period. National Bank of Canada FI's holdings in Chubb were worth $25,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Peoples Bank KS bought a new stake in Chubb during the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb during the first quarter worth $25,000. North Capital Inc. bought a new stake in Chubb during the first quarter worth $26,000. IMA Advisory Services Inc. bought a new stake in Chubb during the first quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after purchasing an additional 89 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI set a $312.00 target price on Chubb in a research note on Wednesday, July 23rd. HSBC cut Chubb from a "buy" rating to a "hold" rating and cut their target price for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Piper Sandler restated a "neutral" rating and set a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lowered their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $302.31.

Chubb Trading Up 0.2%

Shares of CB traded up $0.45 during mid-day trading on Friday, reaching $276.19. 410,699 shares of the company were exchanged, compared to its average volume of 1,780,654. The business has a 50 day simple moving average of $278.26 and a two-hundred day simple moving average of $282.43. 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 stock has a market capitalization of $110.11 billion, a PE ratio of 12.18, a PEG ratio of 3.11 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating 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 business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the prior year, the business posted $5.38 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Chubb Limited will post 21.52 earnings per share 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 issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's payout ratio is currently 17.12%.

Chubb declared that its board has initiated a share buyback 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 5,513 shares of the 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 completion of the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,390 shares of company stock worth $29,163,135. Company insiders own 0.77% 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.