Rathbones Group PLC Lowers Stock Holdings in Chubb Limited (NYSE:CB)

Key Points

• Rathbones Group PLC decreased its holdings in Chubb Limited by 0.3%, owning 333,183 shares worth approximately $100.62 million after selling 1,040 shares in the first quarter.
• Chubb's quarterly earnings exceeded analysts' expectations with an EPS of $6.14, compared to a consensus estimate of $5.84, and a revenue increase of 6.3% year-over-year.
• Chubb recently raised its quarterly dividend to $0.97 per share, bringing its annualized dividend to $3.88, representing a yield of 1.4% and a payout ratio of 17.12%.

Rathbones Group PLC decreased its position in Chubb Limited (NYSE:CB - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 333,183 shares of the financial services provider's stock after selling 1,040 shares during the period. Rathbones Group PLC owned about 0.08% of Chubb worth $100,618,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CB. Legato Capital Management LLC lifted its position in shares of Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock worth $3,080,000 after acquiring an additional 5,582 shares in the last quarter. Davis Rea LTD. purchased a new stake in shares of Chubb during the first quarter worth $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Chubb by 15.4% during the fourth 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 worth $760,853,000 after acquiring an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Chubb by 3.3% during the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock worth $13,070,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Chubb by 9.1% during the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock worth $166,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Down 0.6%

Shares of NYSE:CB traded down $1.58 on Friday, reaching $274.16. 1,504,402 shares of the company traded hands, compared to its average volume of 1,787,608. The business's 50-day simple moving average is $278.26 and its 200 day simple moving average is $282.43. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The stock has a market capitalization of $109.30 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.11 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 0.18.

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 the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. Chubb's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $5.38 earnings per share. As a group, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Chubb Dividend Announcement

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

Insider Buying and Selling

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of the firm'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 transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 over the last ninety days. 0.77% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on CB. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. Citigroup began coverage on shares of Chubb in a report on Wednesday. They issued a "buy" rating and a $326.00 price target on the stock. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $302.31.

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.