Dorsey & Whitney Trust CO LLC Sells 119 Shares of Chubb Limited $CB

Dorsey & Whitney Trust CO LLC reduced its stake in shares of Chubb Limited (NYSE:CB) by 2.0% in the first quarter, Holdings Channel reports. The firm owned 5,751 shares of the financial services provider’s stock after selling 119 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Chubb were worth $1,737,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CB. Peoples Bank KS bought a new stake in Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the first quarter valued at about $25,000. North Capital Inc. purchased a new stake in Chubb in the first quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the first quarter worth about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings 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 worth $34,000 after acquiring an additional 89 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Raymond James Financial reissued a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Barclays cut Chubb from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $321.00 to $298.00 in a research report on Monday, July 7th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and cut their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Morgan Stanley decreased their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $302.00.

Chubb Stock Up 2.1%

CB stock opened at $279.4320 on Thursday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The firm has a 50 day moving average of $277.15 and a 200 day moving average of $282.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $111.41 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating 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 was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.38 EPS. Sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

Chubb declared that its board has authorized a share repurchase program on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the transaction, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.

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.