Robeco Institutional Asset Management B.V. Sells 235,099 Shares of Chubb Limited (NYSE:CB)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 34.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 448,241 shares of the financial services provider's stock after selling 235,099 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.11% of Chubb worth $135,364,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Demars Financial Group LLC grew its stake in shares of Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the period. Norges Bank purchased a new stake in Chubb during the fourth quarter valued at about $1,169,720,000. Raymond James Financial Inc. bought a new position in Chubb during the fourth quarter worth about $1,158,897,000. GAMMA Investing LLC increased its stake in shares of Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock worth $629,357,000 after purchasing an additional 2,078,390 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Chubb by 46.7% in the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

CB has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Wells Fargo & Company lifted their price target on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. UBS Group increased their price objective on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Piper Sandler raised their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Stock Down 1.4%

Shares of NYSE CB opened at $282.76 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average of $287.87 and a 200-day moving average of $281.61. The firm has a market capitalization of $113.31 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 3.19 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. Sell-side analysts expect 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 will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is 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 1.37%. Chubb's payout ratio is 18.67%.

Chubb declared that its board has approved a stock repurchase program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity at Chubb

In other news, COO John W. Keogh bought 9,810 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the transaction, the chief operating officer now directly owns 247,538 shares of the company's stock, valued at $72,526,158.62. This represents a 4.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

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.

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