Hemenway Trust Co LLC Sells 505 Shares of Chubb Limited (NYSE:CB)

Hemenway Trust Co LLC lowered its position in shares of Chubb Limited (NYSE:CB) by 27.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,355 shares of the financial services provider’s stock after selling 505 shares during the quarter. Hemenway Trust Co LLC’s holdings in Chubb were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Peoples Bank KS acquired a new position in Chubb during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Chubb in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb in the fourth quarter valued at $29,000. Finally, Strategic Financial Concepts LLC acquired a new position in Chubb during the fourth quarter worth $30,000. 83.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO John W. Keogh sold 9,794 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the transaction, the chief operating officer now owns 247,538 shares in the company, valued at $72,526,158.62. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares of the company’s stock, valued at $23,120,374.04. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,108 shares of company stock valued at $31,169,977 over the last ninety days. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CB. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Jefferies Financial Group increased their price objective on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research 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, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Chubb Stock Down 0.9%

Shares of NYSE:CB opened at $283.87 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91. The company has a market capitalization of $113.76 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. The company has a fifty day moving average of $287.94 and a 200-day moving average of $281.66.

Chubb (NYSE:CB) last posted its earnings results 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 15.05% and a return on equity of 12.37%. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. On average, equities analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has approved a stock buyback plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio (DPR) is 18.67%.

About Chubb

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.