Sanibel Captiva Trust Company Inc. Sells 2,157 Shares of Chubb Limited (NYSE:CB)

Sanibel Captiva Trust Company Inc. lessened its holdings in Chubb Limited (NYSE:CB - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,042 shares of the financial services provider's stock after selling 2,157 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Chubb were worth $19,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. California Public Employees Retirement System grew 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 acquiring an additional 14,610 shares during the last quarter. Canopy Partners LLC grew its holdings in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock worth $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC bought a new position in Chubb during the 4th quarter valued at approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 worth $760,853,000 after purchasing an additional 366,559 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $1,158,897,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Down 0.9%

Shares of NYSE CB traded down $2.70 during midday trading on Friday, reaching $286.59. 964,830 shares of the company's stock were exchanged, compared to its average volume of 1,615,759. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The business's fifty day moving average price is $287.72 and its two-hundred day moving average price is $281.78. The stock has a market capitalization of $114.84 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its Board of Directors has approved a stock buyback 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 buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 18.67%.

Insiders Place Their Bets

In other news, EVP Joseph F. Wayland sold 12,231 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the transaction, the executive vice president now directly owns 78,422 shares of the company's stock, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were 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 now owns 247,538 shares of the company's stock, valued at $72,526,158.62. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,856 shares of company stock worth $35,537,155 in the last quarter. 0.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CB shares. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Jefferies Financial Group boosted their target price on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their target price on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a research report on Tuesday, May 20th. Finally, Raymond James restated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Chubb presently has an average rating of "Moderate Buy" and an average price target of $307.53.

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.