Chubb Limited (NYSE:CB) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Chubb Limited by 0.4%, owning 1,079,991 shares valued at approximately $326 million as of the latest reporting period.
• Chubb announced a quarterly dividend increase from $0.91 to $0.97, reflecting a dividend yield of 1.4% and a payout ratio of 17.12%.
• Analysts have mixed ratings for Chubb, with price targets ranging from $267 to $324, indicating varying views on the stock’s prospects.

Swiss National Bank reduced its position in Chubb Limited (NYSE:CB - Free Report) by 0.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,079,991 shares of the financial services provider's stock after selling 4,600 shares during the quarter. Swiss National Bank owned about 0.27% of Chubb worth $326,146,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wambolt & Associates LLC grew its stake in shares of Chubb by 11.9% during the 1st quarter. Wambolt & Associates LLC now owns 1,774 shares of the financial services provider's stock worth $535,000 after purchasing an additional 189 shares during the period. AlphaCore Capital LLC acquired a new position in shares of Chubb during the 1st quarter worth $495,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Chubb by 13.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 700,612 shares of the financial services provider's stock worth $211,578,000 after purchasing an additional 82,692 shares during the period. Y.D. More Investments Ltd grew its stake in shares of Chubb by 14.0% during the 1st quarter. Y.D. More Investments Ltd now owns 522 shares of the financial services provider's stock worth $158,000 after purchasing an additional 64 shares during the period. Finally, Evernest Financial Advisors LLC acquired a new position in shares of Chubb during the 1st quarter worth $350,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company's 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 completion of the transaction, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Corbat acquired 425 shares of the company's stock in a transaction dated Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 100,390 shares of company stock worth $29,163,135. Corporate insiders own 0.77% of the company's stock.

Chubb Trading Up 0.7%

NYSE:CB traded up $1.99 on Friday, reaching $271.30. The stock had a trading volume of 961,053 shares, compared to its average volume of 2,191,179. The company has a market cap of $108.16 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 3.07 and a beta of 0.53. 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 firm's fifty day moving average is $280.01 and its two-hundred day moving average is $282.42. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its 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. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.38 EPS. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb declared that its board has approved a share buyback 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. 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

A number of equities analysts have recently weighed in on CB shares. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research note on Tuesday, May 20th. Morgan Stanley boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and reduced their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chubb currently has an average rating of "Hold" and an average price target of $301.50.

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.