United Services Automobile Association Takes $2.54 Million Position in Chubb Limited $CB

United Services Automobile Association purchased a new stake in Chubb Limited (NYSE:CB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,574 shares of the financial services provider’s stock, valued at approximately $2,542,000.

Several other hedge funds have also recently modified their holdings of CB. Brighton Jones LLC grew its position in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb during the fourth quarter valued at approximately $205,000. Bank Pictet & Cie Europe AG acquired a new stake in Chubb in the fourth quarter valued at approximately $1,320,000. Focus Partners Wealth grew its holdings in Chubb by 72.1% in the fourth quarter. Focus Partners Wealth now owns 29,165 shares of the financial services provider’s stock worth $8,127,000 after purchasing an additional 12,219 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Chubb by 27.2% during the fourth quarter. Gotham Asset Management LLC now owns 50,989 shares of the financial services provider’s stock worth $14,088,000 after purchasing an additional 10,889 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Corbat bought 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CB has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. UBS Group cut their price objective on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. Finally, Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $302.00.

Chubb Stock Down 0.9%

CB stock opened at $277.32 on Monday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s fifty day moving average is $274.97 and its 200 day moving average is $283.28. The firm has a market cap of $110.56 billion, a PE ratio of 12.23, a P/E/G ratio of 3.13 and a beta of 0.56.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the company posted $5.38 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its board has initiated a stock buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio is currently 17.12%.

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.