Pictet North America Advisors SA Lowers Holdings in Chubb Limited (NYSE:CB)

Pictet North America Advisors SA cut its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,397 shares of the financial services provider's stock after selling 1,437 shares during the period. Pictet North America Advisors SA's holdings in Chubb were worth $2,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Peoples Bank KS purchased a new position in Chubb in the 1st quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in Chubb in the 1st quarter valued at $25,000. Crowley Wealth Management Inc. purchased a new position in Chubb in the 4th quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC grew its position in Chubb by 56.6% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after buying an additional 43 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 in the last three months. 0.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CB shares. Wells Fargo & Company lifted their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group raised their target price on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a report on Friday, April 11th. Finally, UBS Group raised their target price on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of "Moderate Buy" and an average target price of $307.53.

Chubb Price Performance

Shares of NYSE:CB traded up $1.91 during midday trading on Friday, hitting $281.99. 1,523,457 shares of the stock were exchanged, compared to its average volume of 1,639,089. The stock has a market cap of $113.00 billion, a P/E ratio of 13.57, a PEG ratio of 3.16 and a beta of 0.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $251.42 and a twelve month high of $306.91. The company has a 50 day moving average price of $287.96 and a 200-day moving average price of $282.09.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is 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 paid a $0.97 dividend. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.38%. Chubb's payout ratio is presently 18.67%.

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.