Zions Bancorporation National Association UT Takes $1.39 Million Position in Chubb Limited (NYSE:CB)

Key Points

• Zions Bancorporation National Association UT has made a new investment in Chubb Limited, acquiring 4,610 shares valued at approximately $1.39 million during the first quarter.
• Chubb recently reported $6.14 EPS for the last quarter, exceeding expectations of $5.84, along with revenue of $14.20 billion, which was also above analysts' forecasts.
• The company has initiated a $5 billion share buyback program, reflecting confidence from its board regarding the stock's valuation.

Zions Bancorporation National Association UT purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,610 shares of the financial services provider's stock, valued at approximately $1,392,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Capital World Investors boosted its position in shares of Chubb by 1.9% in the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock worth $3,172,194,000 after buying an additional 212,889 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Chubb by 1.5% in the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock worth $2,457,402,000 after buying an additional 131,075 shares in the last quarter. Demars Financial Group LLC boosted its position in shares of Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after buying an additional 878,177 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after buying an additional 1,403,545 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Chubb by 15.3% in the 4th quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider's stock worth $1,084,133,000 after buying an additional 522,049 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Up 1.6%

CB traded up $4.29 on Wednesday, reaching $274.06. 107,279 shares of the company's stock were exchanged, compared to its average volume of 1,785,836. The company's 50 day moving average is $278.90 and its 200-day moving average is $282.48. The company has a market cap of $109.27 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 3.07 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.38 EPS. Equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.97 per share. This is a boost from Chubb's previous quarterly dividend of $0.91. 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%. Chubb's dividend payout ratio is currently 17.12%.

Insider Buying and Selling

In other news, Director Michael Corbat acquired 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 completion of the transaction, the director directly owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CB has been the topic of several recent research reports. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Morgan Stanley boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wells Fargo & Company reduced their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Finally, Evercore ISI set a $312.00 target price on shares of Chubb in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $302.31.

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.