RWA Wealth Partners LLC Reduces Holdings in Chubb Limited $CB

Key Points

• RWA Wealth Partners LLC reduced its stake in Chubb Limited by 1.6%, owning 67,725 shares valued at $20.45 million after selling 1,134 shares in Q1.
• Several large investors increased their holdings in Chubb, with Legato Capital Management LLC boosting its stake by 120.9% during the same period.
• Chubb recently reported earnings of $6.14 per share, exceeding estimates, and announced a $5 billion share buyback program, indicating the board's confidence in the stock's value.

RWA Wealth Partners LLC cut its stake in Chubb Limited (NYSE:CB - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,725 shares of the financial services provider's stock after selling 1,134 shares during the quarter. RWA Wealth Partners LLC's holdings in Chubb were worth $20,452,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS bought a new position in Chubb in the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Chubb in the 1st quarter worth $25,000. North Capital Inc. bought a new position in Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. bought a new position in Chubb in the 1st quarter worth $31,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Chubb by 391.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock worth $36,000 after purchasing an additional 94 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of NYSE CB traded up $5.6320 during trading on Wednesday, reaching $279.4320. 2,438,563 shares of the company traded hands, compared to its average volume of 2,083,536. The firm has a 50 day simple moving average of $277.15 and a 200-day simple moving average of $282.46. 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 stock has a market capitalization of $111.41 billion, a PE ratio of 12.33, a P/E/G ratio of 3.09 and a beta of 0.53. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.38 EPS. Equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

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

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CB. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Morgan Stanley decreased their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and decreased their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Citigroup began coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Chubb currently has a consensus rating of "Hold" and an average target price of $302.00.

Insider Activity

In related news, 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 transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John W. Keogh sold 9,794 shares of the firm'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 transaction, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.77% of the company's stock.

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.