Chubb Limited (NYSE:CB) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Chubb Limited by 5.2%, owning approximately 0.07% of the company, valued at around $82.65 million.
• An insider, John J. Lupica, sold over 5,500 shares of Chubb for approximately $1.6 million, representing a 5.7% decrease in his position.
• Chubb reported earnings per share of $6.14 for the last quarter, exceeding estimates of $5.84, with a revenue increase of 6.3% year-over-year.

TD Asset Management Inc lifted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,685 shares of the financial services provider's stock after purchasing an additional 13,504 shares during the period. TD Asset Management Inc owned about 0.07% of Chubb worth $82,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Demars Financial Group LLC grew its stake in Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after acquiring an additional 5,340,499 shares in the last quarter. GAMMA Investing LLC grew its stake in Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after acquiring an additional 2,078,390 shares in the last quarter. Royal Bank of Canada grew its stake in 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 valued at $1,217,392,000 after acquiring an additional 1,403,545 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Chubb during the 4th quarter valued at about $336,972,000. Finally, SG Americas Securities LLC grew its stake in Chubb by 1,243.9% during the 1st quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock valued at $205,491,000 after acquiring an additional 629,822 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer owned 237,728 shares of the company's stock, valued at $68,998,174.72. This trade represents a 26.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock valued at $29,163,135 in the last 90 days. Company insiders own 0.86% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CB. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Morgan Stanley lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $321.00 to $298.00 in a research report on Monday, July 7th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $303.14.

Chubb Trading Down 1.2%

Shares of CB stock traded down $3.28 during trading hours on Monday, hitting $265.87. The company had a trading volume of 2,541,489 shares, compared to its average volume of 1,991,524. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.28. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a market capitalization of $106.54 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company's fifty day moving average is $283.97 and its 200 day moving average is $282.52.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter last year, the company posted $5.38 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has authorized a share buyback plan 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is currently 17.12%.

About Chubb

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.