CCM Investment Advisers LLC cut its stake in Chubb Limited (NYSE:CB – Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,992 shares of the financial services provider’s stock after selling 1,235 shares during the quarter. CCM Investment Advisers LLC’s holdings in Chubb were worth $10,873,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in CB. KB Financial Partners LLC purchased a new position in Chubb during the 1st quarter worth $558,000. Mercer Global Advisors Inc. ADV grew its stake in Chubb by 29.1% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 38,478 shares of the financial services provider’s stock valued at $7,472,000 after purchasing an additional 8,662 shares during the last quarter. Alaethes Wealth LLC grew its stake in Chubb by 6.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,501 shares of the financial services provider’s stock valued at $1,457,000 after purchasing an additional 429 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Chubb during the 1st quarter valued at about $4,854,000. Finally, Hancock Whitney Corp grew its stake in Chubb by 11.5% during the 1st quarter. Hancock Whitney Corp now owns 2,068 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 214 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Chubb news, CAO Annmarie T. Hagan sold 1,187 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $211.81, for a total value of $251,418.47. Following the sale, the chief accounting officer now directly owns 13,234 shares of the company’s stock, valued at approximately $2,803,093.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO John W. Keogh sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the sale, the chief operating officer now directly owns 265,184 shares in the company, valued at approximately $53,304,635.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Annmarie T. Hagan sold 1,187 shares of Chubb stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $211.81, for a total value of $251,418.47. Following the completion of the transaction, the chief accounting officer now owns 13,234 shares of the company’s stock, valued at approximately $2,803,093.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,534 shares of company stock valued at $4,645,275. Insiders own 0.37% of the company’s stock.
Chubb Stock Up 0.9 %
Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $4.41 by $0.51. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $11.24 billion. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.20 earnings per share. Analysts predict that Chubb Limited will post 18.18 EPS for the current fiscal year.
Chubb announced that its board has approved a share buyback program on Monday, June 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, September 14th. Chubb’s payout ratio is 24.71%.
Analyst Ratings Changes
Several analysts have weighed in on the company. StockNews.com initiated coverage on Chubb in a research note on Thursday, August 17th. They set a “buy” rating on the stock. BMO Capital Markets boosted their price objective on Chubb from $200.00 to $210.00 in a report on Thursday, July 27th. Citigroup boosted their price objective on Chubb from $229.00 to $235.00 in a report on Thursday, July 27th. JMP Securities reissued a “market outperform” rating and issued a $250.00 price objective on shares of Chubb in a report on Wednesday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Chubb from $241.00 to $250.00 in a report on Thursday, July 6th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.79.
Read Our Latest Analysis on Chubb
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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