Westwood Holdings Group Inc. Trims Stock Position in Chubb Limited (NYSE:CB)

Key Points

• Westwood Holdings Group Inc. has reduced its stake in Chubb Limited by 39.9%, now holding 6,488 shares worth approximately $1.96 million.
• Chubb recently increased its quarterly dividend from $0.91 to $0.97, resulting in an annualized dividend of $3.88 and a yield of 1.4%.
• Chubb's stock has a current market capitalization of $107.49 billion and reported a quarterly revenue of $14.20 billion, significantly surpassing analysts' expectations.

Westwood Holdings Group Inc. trimmed its holdings in Chubb Limited (NYSE:CB - Free Report) by 39.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,488 shares of the financial services provider's stock after selling 4,311 shares during the period. Westwood Holdings Group Inc.'s holdings in Chubb were worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Legato Capital Management LLC lifted its position in shares of Chubb by 120.9% in the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock worth $3,080,000 after buying an additional 5,582 shares in the last quarter. Davis Rea LTD. purchased a new stake in shares of Chubb in the first quarter worth about $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Chubb by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock worth $760,853,000 after buying an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Chubb by 3.3% in the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock worth $13,070,000 after buying an additional 1,375 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Chubb by 9.1% in the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock worth $166,000 after buying an additional 46 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CB has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chubb has an average rating of "Hold" and an average target price of $301.50.

Insiders Place Their Bets

In other news, Director Michael Corbat purchased 425 shares of the stock in a transaction on Friday, July 25th. The stock was bought 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 in the company, valued at $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.77% of the stock is owned by company insiders.

Chubb Stock Up 0.7%

Shares of CB traded up $1.99 during midday trading on Friday, hitting $271.30. 961,053 shares of the company's stock traded hands, compared to its average volume of 2,191,179. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm's fifty day moving average is $280.01 and its 200-day moving average is $282.33. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $108.16 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53.

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, 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 during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter in the previous year, the firm posted $5.38 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is presently 17.12%.

Chubb declared that its board has authorized a share buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

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.