Chubb Limited (NYSE:CB) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. cut its holdings in shares of Chubb Limited (NYSE:CB) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,188 shares of the financial services provider’s stock after selling 50 shares during the period. First City Capital Management Inc.’s holdings in Chubb were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Chubb by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock worth $10,072,097,000 after buying an additional 271,648 shares during the period. FMR LLC raised its holdings in Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock worth $4,329,173,000 after purchasing an additional 91,892 shares in the last quarter. Capital World Investors raised its holdings in Chubb by 1.9% during the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider’s stock worth $3,172,194,000 after purchasing an additional 212,889 shares in the last quarter. Capital Research Global Investors raised its holdings in Chubb by 1.5% during the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider’s stock worth $2,457,402,000 after purchasing an additional 131,075 shares in the last quarter. Finally, Demars Financial Group LLC raised its holdings in Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after purchasing an additional 5,340,499 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a report on Wednesday, March 5th. Jefferies Financial Group upped their price target on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, UBS Group upped their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the transaction, the chief executive officer now directly owns 584,395 shares in the company, valued at $170,321,922.75. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction on 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 owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,553 shares of company stock valued at $40,387,620 in the last three months. 0.77% of the stock is currently owned by company insiders.

Chubb Price Performance

Shares of NYSE:CB opened at $293.95 on Friday. The company’s fifty day moving average is $287.64 and its two-hundred day moving average is $281.72. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a market cap of $117.79 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, June 13th. Chubb’s payout ratio is 18.67%.

Chubb announced that its Board of Directors has initiated a share buyback 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.