Sanibel Captiva Trust Company Inc. Sells 2,157 Shares of Chubb Limited (NYSE:CB)

Sanibel Captiva Trust Company Inc. lowered its stake in shares of Chubb Limited (NYSE:CB) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,042 shares of the financial services provider’s stock after selling 2,157 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Chubb were worth $19,642,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CB. Peoples Bank KS bought a new stake in Chubb in the first quarter worth $25,000. Sierra Ocean LLC purchased a new position in shares of Chubb in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb in the 4th quarter valued at about $29,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 valued at $34,000 after acquiring an additional 89 shares during the period. Finally, Human Investing LLC purchased a new stake in Chubb during the 4th quarter valued at about $36,000. 83.81% of the stock is owned by institutional investors.

Chubb Trading Down 1.4%

Shares of Chubb stock opened at $289.83 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The stock’s 50 day simple moving average is $287.40 and its 200-day simple moving average is $281.71. The stock has a market cap of $116.14 billion, a P/E ratio of 12.76, a P/E/G ratio of 3.36 and a beta of 0.54. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio is presently 18.67%.

Chubb announced that its board has initiated a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James reissued a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Barclays cut their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Piper Sandler boosted their price target on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Jefferies Financial Group increased their price objective on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb presently has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Activity

In other news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer now directly owns 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The sale 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 business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,825 shares of company stock valued at $32,889,194. 0.77% of the stock is currently owned by company insiders.

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.