Steward Partners Investment Advisory LLC Boosts Stake in Chubb Limited $CB

Key Points

• Steward Partners Investment Advisory LLC increased its holdings in Chubb Limited by 5.8%, owning 136,729 shares worth approximately $41.29 million as of the end of the first quarter.
• Chubb reported $6.14 earnings per share for the last quarter, exceeding estimates by $0.30, and the company's revenue increased by 6.3% year-over-year.
• The board has approved a $5 billion share repurchase program, allowing the company to buy back up to 4.3% of its shares, indicating confidence in its stock value.

Steward Partners Investment Advisory LLC increased its stake in Chubb Limited (NYSE:CB - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,729 shares of the financial services provider's stock after buying an additional 7,439 shares during the period. Steward Partners Investment Advisory LLC's holdings in Chubb were worth $41,291,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Tocqueville Asset Management L.P. boosted its position in shares of Chubb by 1.2% during the first quarter. Tocqueville Asset Management L.P. now owns 135,113 shares of the financial services provider's stock valued at $40,803,000 after purchasing an additional 1,547 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Chubb by 3.3% during the 1st quarter. American Century Companies Inc. now owns 94,407 shares of the financial services provider's stock valued at $28,510,000 after buying an additional 3,014 shares in the last quarter. Ethic Inc. grew its position in shares of Chubb by 0.3% in the 1st quarter. Ethic Inc. now owns 57,637 shares of the financial services provider's stock worth $17,372,000 after buying an additional 186 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Chubb by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the financial services provider's stock worth $788,000 after purchasing an additional 361 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in shares of Chubb by 28.5% during the first quarter. Brandywine Global Investment Management LLC now owns 282,793 shares of the financial services provider's stock valued at $85,401,000 after purchasing an additional 62,692 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

NYSE CB traded up $5.6320 during trading hours on Wednesday, hitting $279.4320. The company's stock had a trading volume of 2,438,563 shares, compared to its average volume of 1,802,989. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company's 50 day simple moving average is $277.28 and its two-hundred day simple moving average is $282.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $111.41 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53.

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. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the firm posted $5.38 EPS. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's payout ratio is 17.12%.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CB shares. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and dropped their target price for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Wells Fargo & Company reduced their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Evercore ISI set a $312.00 price target on Chubb in a research report on Wednesday, July 23rd. Finally, Piper Sandler reissued a "neutral" rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $302.00.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the company's 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 completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company's stock.

Chubb Company 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.