Chubb Limited (NYSE:CB) Stock Position Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,650,892 shares of the financial services provider's stock after selling 548,884 shares during the period. Nuveen Asset Management LLC owned about 0.41% of Chubb worth $456,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Sierra Ocean LLC acquired a new stake in Chubb during the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Chubb during the 4th quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new stake in shares of Chubb during the fourth quarter worth approximately $30,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after buying an additional 89 shares in the last quarter. Finally, Human Investing LLC bought a new stake in shares of Chubb in the fourth quarter worth $36,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Hsbc Global Res raised shares of Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Raymond James reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. JMP Securities restated a "market outperform" rating and set a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Finally, UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $307.86.

Chubb Stock Performance

Shares of NYSE CB traded up $2.14 during mid-day trading on Friday, hitting $294.19. The company had a trading volume of 1,402,309 shares, compared to its average volume of 1,614,250. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The stock has a market cap of $117.89 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The firm's 50 day simple moving average is $288.43 and its two-hundred day simple moving average is $280.67.

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

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is 17.52%.

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

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 25,728 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares of the company's stock, valued at $170,321,922.75. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the 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 sale, the chief accounting officer now owns 20,044 shares of the company's stock, valued at $5,820,978.04. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,470 shares of company stock worth $18,562,730. Company insiders own 0.77% of the company's stock.

About Chubb

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.