Chubb Limited $CB Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd reduced its stake in Chubb Limited by 17.0%, selling 13,200 shares, leaving it with 64,447 shares worth approximately $19.47 million.
• Chubb's quarterly earnings report revealed an EPS of $6.14, exceeding estimates, and a revenue of $14.20 billion, marking a 6.3% year-over-year increase.
• The company has announced a $5.00 billion share repurchase plan reflecting management's belief that its stock is undervalued, alongside a quarterly dividend of $0.97 per share.

USS Investment Management Ltd decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,447 shares of the financial services provider's stock after selling 13,200 shares during the period. USS Investment Management Ltd's holdings in Chubb were worth $19,468,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CB. Peoples Bank KS acquired a new position in Chubb during the 1st quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter worth about $25,000. North Capital Inc. acquired a new stake in Chubb in the 1st quarter valued at about $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the 1st quarter valued at about $31,000. Finally, 1248 Management LLC purchased a new position in shares of Chubb in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CB shares. Morgan Stanley decreased their price objective on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Evercore ISI set a $312.00 price objective on Chubb in a research note on Wednesday, July 23rd. HSBC cut Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $302.00.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business'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 completion of the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost 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 $661,010. This trade represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.86% of the stock is owned by insiders.

Chubb Stock Down 0.2%

CB stock traded down $0.42 during trading on Tuesday, hitting $277.05. 1,115,251 shares of the company's stock were exchanged, compared to its average volume of 1,589,358. The business has a 50-day moving average price of $274.48 and a two-hundred day moving average price of $283.31. The stock has a market capitalization of $110.46 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.13 and a beta of 0.56. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is presently 17.12%.

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

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.