Chubb Limited (NYSE:CB) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Chubb Limited by 2.4%, acquiring an additional 4,294 shares, bringing its total ownership to 183,284 shares worth approximately $55.35 million.
• Chubb Limited reported $6.14 earnings per share for the most recent quarter, exceeding the consensus estimate and reflecting a 6.3% year-over-year revenue growth to $14.20 billion.
• The company's board authorized a $5 billion share repurchase program, allowing repurchase of up to 4.3% of its outstanding shares, indicating management's belief that the stock is undervalued.

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Chubb Limited (NYSE:CB - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,284 shares of the financial services provider's stock after purchasing an additional 4,294 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Chubb were worth $55,350,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CB. Peoples Bank KS bought a new position in Chubb in the 1st quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter valued at $25,000. North Capital Inc. bought a new position in shares of Chubb in the first quarter worth about $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the first quarter worth about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 $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. In the last quarter, insiders have sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CB. Jefferies Financial Group boosted their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. Evercore ISI set a $312.00 price objective on Chubb in a report on Wednesday, July 23rd. Morgan Stanley lifted their target price on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company lowered their target price on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has a consensus rating of "Moderate Buy" and a consensus price target of $303.14.

Chubb Stock Down 1.2%

NYSE CB traded down $3.28 on Monday, hitting $265.87. The stock had a trading volume of 2,541,489 shares, compared to its average volume of 1,991,524. The business's fifty day moving average price is $283.97 and its 200 day moving average price is $282.52. The stock has a market cap of $106.54 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.28. 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 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. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $5.38 EPS. Equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.97 dividend. The ex-dividend date was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.46%. Chubb's dividend payout ratio (DPR) is 17.12%.

Chubb Company 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.