MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 24,485 Shares of Chubb Limited (NYSE:CB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Chubb Limited (NYSE:CB - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,983 shares of the financial services provider's stock after selling 24,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Chubb were worth $10,771,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CB. Sierra Ocean LLC bought a new position in shares of Chubb during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb during the fourth quarter valued at about $29,000. Strategic Financial Concepts LLC bought a new position in Chubb in the 4th quarter valued at about $30,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the period. Finally, Human Investing LLC bought a new stake in shares of Chubb during the 4th quarter worth about $36,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of Chubb stock traded down $2.94 during trading on Tuesday, reaching $291.64. The company's stock had a trading volume of 1,524,497 shares, compared to its average volume of 1,612,510. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The firm has a market cap of $116.87 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The business's fifty day moving average price is $288.63 and its 200-day moving average price is $280.78.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its Board of Directors has approved a stock buyback 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is currently 17.52%.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 12,231 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares in the company, valued at $23,120,374.04. This trade represents a 13.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,470 shares of company stock worth $18,562,730. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Morgan Stanley raised their target price on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday. Barclays cut their target price on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price target on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. HSBC raised Chubb from a "hold" rating to a "buy" rating and set a $323.00 price objective for the company in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group upped their target price on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $307.53.

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.