Chubb Limited (NYSE:CB) Position Boosted by National Pension Service

Key Points

• The National Pension Service increased its stake in Chubb Limited by 5.1%, acquiring an additional 41,366 shares, bringing its total ownership to 855,973 shares valued at approximately $258.5 million.
• Chubb announced a quarterly dividend increase to $0.97 per share, representing an annualized dividend of $3.88, with a dividend yield of 1.4%.
• Shares of Chubb opened at $269.96, with a market cap of $107.63 billion, and recent earnings reported $6.14 EPS, exceeding analysts' estimates of $5.84.

National Pension Service lifted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,973 shares of the financial services provider's stock after acquiring an additional 41,366 shares during the quarter. National Pension Service owned 0.21% of Chubb worth $258,495,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Legato Capital Management LLC lifted its stake in Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after buying an additional 5,582 shares in the last quarter. Davis Rea LTD. purchased a new stake in Chubb in the 1st quarter valued at approximately $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after buying an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after buying an additional 1,375 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Chubb by 9.1% in the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock valued at $166,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Down 0.6%

Chubb stock traded down $1.58 during trading on Friday, reaching $274.16. 1,504,402 shares of the company's stock were exchanged, compared to its average volume of 2,108,787. The company's 50-day moving average is $277.86 and its two-hundred day moving average is $282.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The firm has a market cap of $109.30 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 3.11 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.38 EPS. On average, analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio is presently 17.12%.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 in the last ninety days. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CB. Keefe, Bruyette & Woods boosted their price target on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and cut their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Morgan Stanley boosted their price target on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chubb has an average rating of "Hold" and an average target price of $302.31.

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.