Slow Capital Inc. boosted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 87.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,118 shares of the financial services provider's stock after acquiring an additional 9,828 shares during the period. Slow Capital Inc.'s holdings in Chubb were worth $6,382,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. California Public Employees Retirement System increased its stake 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 valued at $373,110,000 after purchasing an additional 14,610 shares in the last quarter. Canopy Partners LLC increased its stake in Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after purchasing an additional 2,340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Chubb by 15.4% during 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 valued at $760,853,000 after purchasing an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Chubb by 9.1% during the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock valued at $166,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Insider Transactions at Chubb
In other Chubb news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer directly owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock worth $29,163,135 over the last ninety days. 0.86% of the stock is owned by insiders.
Analyst Ratings Changes
A number of brokerages have issued reports on CB. UBS Group upped their price target on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Piper Sandler increased their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $307.13.
Read Our Latest Research Report on Chubb
Chubb Stock Down 1.0%
CB stock opened at $277.66 on Monday. The firm has a market cap of $111.27 billion, a PE ratio of 13.36, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm's fifty day moving average is $287.42 and its 200 day moving average is $282.28. Chubb Limited has a one year low of $252.16 and a one year high of $306.91.
Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.
Chubb announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
Chubb Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio (DPR) is currently 18.67%.
About Chubb
(
Free Report)
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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