New Age Alpha Advisors LLC Has $10.47 Million Holdings in Chubb Limited (NYSE:CB)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Chubb Limited by 23.5%, ending the first quarter with $10.47 million in stocks after selling 10,664 shares.
• Chubb's board approved a $5 billion stock buyback plan, indicating confidence in the company's undervalued shares, while the company also increased its quarterly dividend by 6.6% to $0.97 per share.
• Chubb reported strong earnings, with $6.14 earnings per share for the last quarter, exceeding analyst estimates and showing a 6.3% year-over-year revenue growth.

New Age Alpha Advisors LLC decreased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,661 shares of the financial services provider's stock after selling 10,664 shares during the quarter. New Age Alpha Advisors LLC's holdings in Chubb were worth $10,467,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CB. Peoples Bank KS acquired a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new position in Chubb during the first quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings 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 valued at $34,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In related news, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer owned 237,728 shares in the company, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock worth $29,163,135 over the last ninety days. Insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CB shares. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. UBS Group decreased their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the company from $317.00 to $300.00 in a report on Friday. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $301.50.

Chubb Price Performance

Shares of CB opened at $267.70 on Tuesday. The company has a market cap of $106.73 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 3.03 and a beta of 0.53. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company's fifty day simple moving average is $281.86 and its 200 day simple moving average is $282.50. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for 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 firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $5.38 earnings per share. On average, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has approved 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's dividend payout ratio is presently 17.12%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.