Teza Capital Management LLC Takes Position in Chubb Limited (NYSE:CB)

Teza Capital Management LLC bought a new stake in Chubb Limited (NYSE:CB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,127 shares of the financial services provider’s stock, valued at approximately $6,943,000. Chubb accounts for approximately 1.1% of Teza Capital Management LLC’s portfolio, making the stock its 10th biggest position.

Other institutional investors have also modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Chubb in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Chubb in the 4th quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Human Investing LLC acquired a new position in shares of Chubb in the 4th quarter valued at $36,000. Finally, Mainstream Capital Management LLC acquired a new position in shares of Chubb in the 4th quarter valued at $37,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE CB opened at $294.19 on Friday. The firm has a market capitalization of $117.89 billion, a P/E ratio of 12.95, a PEG ratio of 3.36 and a beta of 0.57. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company’s fifty day moving average is $288.43 and its two-hundred day moving average is $280.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has initiated a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.32%. Chubb’s payout ratio is presently 17.52%.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This represents a 11.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.77% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CB. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. UBS Group lifted their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Jefferies Financial Group lifted their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $307.86.

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.