Pacer Advisors Inc. Reduces Stock Position in Chubb Limited (NYSE:CB)

Key Points

• Pacer Advisors Inc. has decreased its stake in Chubb Limited by 51.4%, owning 23,899 shares worth approximately $7.22 million after selling over 25,000 shares.
• Chubb recently declared a quarterly dividend of $0.97 per share, representing an annualized amount of $3.88 and a yield of 1.44%, which is an increase from the previous dividend.
• The company reported earnings of $6.14 per share for the last quarter, exceeding analysts' expectations by $0.30, with revenue reaching $14.20 billion compared to expected $12.53 billion.

Pacer Advisors Inc. lessened its position in shares of Chubb Limited (NYSE:CB - Free Report) by 51.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,899 shares of the financial services provider's stock after selling 25,307 shares during the period. Pacer Advisors Inc.'s holdings in Chubb were worth $7,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Sunflower Bank N.A. raised its stake in Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after buying an additional 38 shares during the last quarter. Avantax Planning Partners Inc. increased its stake in Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC increased its stake in Chubb by 3.0% in the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 40 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Chubb by 0.5% in the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock valued at $2,524,000 after purchasing an additional 40 shares in the last quarter. Finally, Unison Advisors LLC increased its stake in Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock valued at $3,742,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Price Performance

Shares of NYSE:CB traded down $3.28 during trading on Monday, reaching $265.87. The company had a trading volume of 2,541,489 shares, compared to its average volume of 1,991,524. The company has a fifty day moving average of $283.97 and a two-hundred day moving average of $282.52. The stock 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 Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned $5.38 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.46%. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 17.12%.

Chubb declared that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CB shares. Wells Fargo & Company decreased their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods lifted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $303.14.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 9,794 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction 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 owned 91,180 shares of the company's stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock valued at $29,163,135 in the last quarter. Company insiders own 0.86% of the company's stock.

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.