SVB Wealth LLC Has $2.19 Million Stock Holdings in Chubb Limited $CB

Key Points

• SVB Wealth LLC reduced its stake in Chubb Limited by 19.2% during the first quarter, owning 7,238 shares valued at approximately $2.19 million.
• Chubb reported better-than-expected quarterly earnings of $6.14 EPS, exceeding analysts' estimates, with revenue reaching $14.20 billion.
• The company has authorized a $5 billion share buyback program, indicating management's belief that its stock is undervalued.

SVB Wealth LLC cut its position in shares of Chubb Limited (NYSE:CB - Free Report) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,238 shares of the financial services provider's stock after selling 1,718 shares during the period. SVB Wealth LLC's holdings in Chubb were worth $2,186,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. GQG Partners LLC increased its stake in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC increased its stake in shares of Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Chubb by 46.7% during the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after buying an additional 1,403,545 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Chubb by 15.3% during the 4th quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider's stock worth $1,084,133,000 after buying an additional 522,049 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.77% of the company's stock.

Chubb Stock Performance

NYSE CB opened at $277.3750 on Friday. 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 company has a market capitalization of $110.59 billion, a P/E ratio of 12.24, a P/E/G ratio of 3.13 and a beta of 0.53. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a 50-day moving average price of $276.76 and a two-hundred day moving average price of $282.59.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data 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 during 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 revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.38 EPS. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its Board of Directors has authorized a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Chubb Announces Dividend

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

Analysts Set New Price Targets

CB has been the subject of several research analyst reports. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and reduced their target price for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. UBS Group reduced their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley reduced their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of "Hold" and an average price target of $302.00.

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.

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