Chubb Limited (NYSE:CB) Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Chubb Limited by 17.3% in the first quarter, owning approximately 400,908 shares valued at $120.97 million.
• Chubb reported $6.14 EPS for the latest quarter, exceeding analysts' expectations of $5.84, with revenue of $14.20 billion.
• The company announced a $5 billion stock repurchase program allowing it to buy back up to 4.3% of its shares, indicating a belief that its stock is undervalued.

Russell Investments Group Ltd. grew its position in shares of Chubb Limited (NYSE:CB - Free Report) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,908 shares of the financial services provider's stock after purchasing an additional 58,984 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of Chubb worth $120,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sunflower Bank N.A. lifted its stake in shares of Chubb by 4.4% in 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 in the last quarter. Avantax Planning Partners Inc. grew its stake in Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after acquiring an additional 38 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in Chubb by 0.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock valued at $2,524,000 after acquiring an additional 40 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its stake in Chubb by 5.6% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 798 shares of the financial services provider's stock worth $227,000 after purchasing an additional 42 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC boosted its holdings in shares of Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Down 0.6%

Chubb stock traded down $1.58 during mid-day trading on Friday, reaching $274.16. 1,504,402 shares of the company's stock were exchanged, compared to its average volume of 1,788,006. The company has a market cap of $109.30 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.11 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $278.26 and a 200-day moving average of $282.43.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (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 company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business earned $5.38 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

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

Chubb Dividend Announcement

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

Insider Activity

In other news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost 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 $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction 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 sale, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CB. HSBC cut Chubb from a "buy" rating to a "hold" rating and cut their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research note on Tuesday, May 20th. UBS Group lowered their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Wells Fargo & Company lowered their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Finally, Evercore ISI set a $312.00 price target on shares of Chubb in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.