Free Trial

Chubb Limited $CB Shares Sold by Wellington Management Group LLP

Chubb logo with Finance background

Key Points

  • Wellington Management Group LLP reduced its stake in Chubb Limited by 16%, now holding approximately 7.17 million shares valued at $2.17 billion.
  • Chubb recently reported an earnings per share (EPS) of $6.14 for its latest quarter, exceeding estimates and reflecting a 6.3% revenue increase year-over-year.
  • The company approved a $5.00 billion stock repurchase plan, indicating that it may believe its shares are undervalued.
  • Need better tools to track Chubb? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Wellington Management Group LLP lessened its holdings in Chubb Limited (NYSE:CB - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,171,879 shares of the financial services provider's stock after selling 1,364,749 shares during the quarter. Wellington Management Group LLP owned approximately 1.79% of Chubb worth $2,165,836,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Alpha Family Trust purchased a new position in Chubb in the first quarter valued at $326,000. Brooklyn Investment Group increased its holdings in Chubb by 58.7% in the first quarter. Brooklyn Investment Group now owns 4,233 shares of the financial services provider's stock valued at $1,278,000 after buying an additional 1,565 shares during the last quarter. Valley Brook Capital Group Inc. increased its holdings in Chubb by 3.0% in the first quarter. Valley Brook Capital Group Inc. now owns 2,600 shares of the financial services provider's stock valued at $785,000 after buying an additional 75 shares during the last quarter. Mill Creek Capital Advisors LLC increased its holdings in Chubb by 25.8% in the first quarter. Mill Creek Capital Advisors LLC now owns 1,155 shares of the financial services provider's stock valued at $349,000 after buying an additional 237 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Chubb by 5.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 136,729 shares of the financial services provider's stock valued at $41,291,000 after buying an additional 7,439 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Shares of CB traded down $1.4450 during mid-day trading on Friday, hitting $277.3750. 1,401,699 shares of the company's stock were exchanged, compared to its average volume of 1,895,244. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The firm has a market capitalization of $110.59 billion, a P/E ratio of 12.24, a P/E/G ratio of 3.15 and a beta of 0.53. The business's 50 day moving average is $276.76 and its two-hundred day moving average is $282.53. 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 announced 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. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $5.38 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders 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 dividend yield of 1.4%. Chubb's dividend payout ratio is 17.12%.

Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CB shares. Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company decreased their price objective on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Citigroup began coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, UBS Group decreased their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $302.00.

View Our Latest Stock Analysis on CB

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, with a total value 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. Insiders own 0.77% of the company's stock.

About Chubb

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Chubb (NYSE:CB)

Should You Invest $1,000 in Chubb Right Now?

Before you consider Chubb, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chubb wasn't on the list.

While Chubb currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide To Retirement Stocks Cover

Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: All Signs Point to More Growth Ahead
3 Quiet Growth Stocks With Major Momentum
The Market’s Next Big Winners? Start Here

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines