Principal Financial Group Inc. Sells 8,296 Shares of Chubb Limited (NYSE:CB)

Principal Financial Group Inc. lessened its position in shares of Chubb Limited (NYSE:CB - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,354,802 shares of the financial services provider's stock after selling 8,296 shares during the period. Principal Financial Group Inc. owned approximately 0.34% of Chubb worth $409,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CB. California Public Employees Retirement System increased its position in Chubb by 1.1% during the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock worth $373,110,000 after purchasing an additional 14,610 shares in the last quarter. Canopy Partners LLC increased its position in Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after acquiring an additional 2,340 shares during the period. Vista Investment Partners II LLC acquired a new position in Chubb in the 4th quarter valued at approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 acquiring an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Chubb in the 4th quarter valued at approximately $1,158,897,000. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

CB has been the subject of several recent research reports. Barclays decreased their price target on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price target on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price objective on shares of Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Price Performance

Chubb stock traded up $1.91 during mid-day trading on Friday, hitting $281.99. 1,523,457 shares of the company traded hands, compared to its average volume of 1,637,475. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The stock has a market cap of $113.00 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average price of $287.96 and a 200-day moving average price of $282.02.

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

Chubb Increases Dividend

The business also recently announced 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 of this dividend was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.38%. Chubb's payout ratio is presently 18.67%.

Chubb announced that its Board of Directors has authorized a share 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,390 shares of company stock valued at $29,163,135. Company insiders own 0.77% of the company's stock.

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.