Chubb Limited $CB Position Cut by Nations Financial Group Inc. IA ADV

Key Points

• Nations Financial Group Inc. IA ADV reduced its holdings in Chubb Limited by 17% during the first quarter, owning 10,170 shares valued at approximately $3.07 million after selling 2,079 shares.
• Chubb reported a quarterly earnings of $6.14 per share, surpassing analysts' estimates of $5.84, with revenues increasing by 6.3% year-over-year to $14.20 billion.
• The company announced a quarterly dividend of $0.97, which will be paid on October 3rd, representing an annualized yield of 1.4% amid a stock repurchase program amounting to $5 billion.

Nations Financial Group Inc. IA ADV cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,170 shares of the financial services provider's stock after selling 2,079 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Chubb were worth $3,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Chubb by 3.3% in the 1st quarter. American Century Companies Inc. now owns 94,407 shares of the financial services provider's stock worth $28,510,000 after buying an additional 3,014 shares in the last quarter. Ethic Inc. lifted its holdings in Chubb by 0.3% in the 1st quarter. Ethic Inc. now owns 57,637 shares of the financial services provider's stock valued at $17,372,000 after purchasing an additional 186 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Chubb by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the financial services provider's stock valued at $788,000 after purchasing an additional 361 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in Chubb by 28.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 282,793 shares of the financial services provider's stock valued at $85,401,000 after purchasing an additional 62,692 shares in the last quarter. Finally, Horizon Investments LLC lifted its holdings in Chubb by 3.5% in the 1st quarter. Horizon Investments LLC now owns 6,534 shares of the financial services provider's stock valued at $1,973,000 after purchasing an additional 218 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Trading Up 0.4%

CB traded up $1.0970 on Tuesday, reaching $274.0170. 4,131,987 shares of the company's stock were exchanged, compared to its average volume of 1,798,854. The company's 50 day moving average is $277.52 and its 200-day moving average is $282.54. The company has a market cap of $109.25 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 3.09 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. 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 (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.38 EPS. Equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has authorized a stock repurchase plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio is 17.12%.

Insider Activity

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Corbat bought 425 shares of Chubb stock in a transaction dated 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 purchase, the director 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. In the last three months, insiders sold 100,390 shares of company stock worth $29,163,135. 0.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CB. Morgan Stanley reduced their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday. Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $321.00 to $298.00 in a report on Monday, July 7th. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $302.00.

Chubb Company 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.