Chubb Limited (NYSE:CB) Holdings Decreased by USS Investment Management Ltd

USS Investment Management Ltd trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 3.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 77,647 shares of the financial services provider’s stock after selling 2,841 shares during the period. USS Investment Management Ltd’s holdings in Chubb were worth $21,460,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rede Wealth LLC increased its holdings in shares of Chubb by 2.0% in the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 37 shares during the period. United Asset Strategies Inc. boosted its holdings in shares of Chubb by 1.3% during the fourth quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 40 shares during the period. Avitas Wealth Management LLC grew its position in Chubb by 0.5% during the fourth quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 40 shares in the last quarter. Tandem Wealth Advisors LLC increased its stake in Chubb by 3.0% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock valued at $382,000 after buying an additional 40 shares during the period. Finally, Unison Advisors LLC lifted its position in Chubb by 0.3% in the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock worth $3,742,000 after buying an additional 41 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, 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. In the last 90 days, insiders sold 63,470 shares of company stock valued at $18,562,730. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CB. Raymond James restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. UBS Group upped their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their price target on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft cut Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a research note on Tuesday. Finally, Barclays cut their price objective on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.53.

Chubb Trading Down 1.0%

NYSE:CB opened at $291.64 on Wednesday. The company’s 50 day moving average is $288.69 and its 200-day moving average is $280.85. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The firm has a market cap of $116.87 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 3.36 and a beta of 0.57.

Chubb (NYSE:CB) 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. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.97 dividend. The ex-dividend date is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.33%. Chubb’s payout ratio is presently 17.52%.

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.