Teza Capital Management LLC Takes Position in Chubb Limited (NYSE:CB)

Teza Capital Management LLC purchased a new position in Chubb Limited (NYSE:CB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,127 shares of the financial services provider's stock, valued at approximately $6,943,000. Chubb accounts for about 1.1% of Teza Capital Management LLC's investment portfolio, making the stock its 10th largest position.

A number of other large investors have also bought and sold shares of the stock. Sierra Ocean LLC purchased a new position in shares of Chubb during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Chubb during the fourth quarter valued at approximately $29,000. Strategic Financial Concepts LLC purchased a new position in shares of Chubb during the fourth quarter valued at approximately $30,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the period. Finally, Human Investing LLC purchased a new position in shares of Chubb during the fourth quarter valued at approximately $36,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now directly owns 78,422 shares of the company's stock, valued at approximately $23,120,374.04. This represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. This represents a 33.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,470 shares of company stock valued at $18,562,730. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

CB has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company boosted their target price on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. boosted their target price on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Finally, HSBC raised Chubb from a "hold" rating to a "buy" rating and set a $323.00 target price on the stock in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Stock Down 0.6%

Shares of NYSE CB traded down $1.62 during mid-day trading on Wednesday, hitting $290.34. 1,858,830 shares of the stock traded hands, compared to its average volume of 1,612,458. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company has a market cap of $116.35 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 3.36 and a beta of 0.57. The stock has a fifty day moving average price of $288.69 and a 200-day moving average price of $280.85.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has approved a share repurchase program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, June 13th. Chubb's dividend payout ratio is currently 17.52%.

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.