Schechter Investment Advisors LLC Trims Stake in Chubb Limited (NYSE:CB)

Schechter Investment Advisors LLC reduced its position in shares of Chubb Limited (NYSE:CB - Free Report) by 21.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,046 shares of the financial services provider's stock after selling 1,629 shares during the period. Schechter Investment Advisors LLC's holdings in Chubb were worth $1,826,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CB. Peoples Bank KS bought a new stake in shares of Chubb during the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb during the 1st quarter worth $25,000. North Capital Inc. bought a new stake in shares of Chubb during the 1st quarter worth $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb during the 4th quarter worth $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Chubb from $278.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Piper Sandler lifted their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $307.13.

Insider Activity

In related news, COO John W. Keogh sold 9,794 shares of the business'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 sale, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at $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 worth $29,163,135 in the last three months. 0.86% of the stock is currently owned by insiders.

Chubb Price Performance

Shares of NYSE CB opened at $277.66 on Monday. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company's 50-day moving average is $287.42 and its 200 day moving average is $282.28. The stock has a market capitalization of $111.27 billion, a P/E ratio of 13.36, a P/E/G ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. On average, sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.40%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is presently 18.67%.

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

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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