Plimoth Trust Co. LLC Sells 428 Shares of Chubb Limited (NYSE:CB)

Plimoth Trust Co. LLC decreased its stake in shares of Chubb Limited (NYSE:CB) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,532 shares of the financial services provider’s stock after selling 428 shares during the quarter. Chubb comprises approximately 1.2% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 24th largest holding. Plimoth Trust Co. LLC’s holdings in Chubb were worth $4,691,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Peoples Bank KS bought a new stake in Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the 1st quarter worth about $25,000. Sierra Ocean LLC acquired a new stake in shares of Chubb in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in Chubb in the 4th quarter valued at about $29,000. Finally, Strategic Financial Concepts LLC bought a new stake in Chubb in the 4th quarter valued at about $30,000. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Chubb stock opened at $282.01 on Thursday. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company’s 50 day moving average price is $287.89 and its two-hundred day moving average price is $281.66. The stock has a market cap of $113.01 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.16 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. On average, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s payout ratio is 18.67%.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CB shares. 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. Keefe, Bruyette & Woods reduced their price target on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Jefferies Financial Group upped their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Activity at Chubb

In other news, COO John W. Keogh acquired 9,810 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the purchase, the chief operating officer now owns 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.

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.