Tocqueville Asset Management L.P. Buys 1,547 Shares of Chubb Limited $CB

Key Points

• Tocqueville Asset Management L.P. increased its holdings in Chubb Limited by 1.2%, purchasing an additional 1,547 shares, bringing its total to 135,113 shares valued at approximately $40.8 million.
• Chubb's board has authorized a $5 billion stock repurchase plan, indicating management's belief that the stock is undervalued.
• Chubb plans to pay a quarterly dividend of $0.97 on October 3rd, with a yield of 1.4% based on an annualized dividend of $3.88.

Tocqueville Asset Management L.P. lifted its position in Chubb Limited (NYSE:CB - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,113 shares of the financial services provider's stock after acquiring an additional 1,547 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Chubb were worth $40,803,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peoples Bank KS bought a new position in Chubb during the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in Chubb during the first quarter worth about $25,000. North Capital Inc. bought a new position in Chubb during the first quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb in the first quarter worth about $31,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Chubb by 391.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock worth $36,000 after buying an additional 94 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Price Performance

NYSE CB traded up $0.0360 during mid-day trading on Thursday, hitting $279.7160. The stock had a trading volume of 363,028 shares, compared to its average volume of 1,793,750. The company has a 50 day simple moving average of $277.15 and a 200 day simple moving average of $282.46. The company has a market cap of $111.52 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

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

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be issued 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 dividend payout ratio is 17.12%.

Chubb declared that its board has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent analyst reports. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. UBS Group cut their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $302.00.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 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, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction 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 sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by insiders.

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.