Level Four Advisory Services LLC lowered its holdings in shares of Chubb Limited (NYSE:CB – Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,541 shares of the financial services provider’s stock after selling 591 shares during the quarter. Level Four Advisory Services LLC’s holdings in Chubb were worth $3,788,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of CB. Brighton Jones LLC boosted its stake in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Chubb during the 4th quarter worth about $205,000. Bank Pictet & Cie Europe AG purchased a new position in shares of Chubb during the 4th quarter worth about $1,320,000. MML Investors Services LLC boosted its stake in shares of Chubb by 6.8% during the 4th quarter. MML Investors Services LLC now owns 50,971 shares of the financial services provider’s stock worth $14,083,000 after purchasing an additional 3,255 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of 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 purchasing an additional 89 shares during the period. Institutional investors own 83.81% of the company’s stock.
Insider Activity
In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.
Chubb Price Performance
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings data 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 company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $5.38 EPS. On average, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb announced that its board has approved a stock repurchase 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 generally an indication that the company’s board believes its stock is undervalued.
Chubb Dividend Announcement
The firm also recently declared 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. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s payout ratio is currently 17.12%.
Analyst Ratings Changes
A number of research firms recently commented on CB. Morgan Stanley dropped their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. Evercore ISI set a $312.00 price target on shares of Chubb in a research note on Wednesday, July 23rd. UBS Group dropped their price target on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Finally, Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $302.00.
View Our Latest Analysis on Chubb
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.
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