Plimoth Trust Co. LLC Sells 428 Shares of Chubb Limited (NYSE:CB)

Plimoth Trust Co. LLC reduced its holdings in shares of Chubb Limited (NYSE:CB) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,532 shares of the financial services provider’s stock after selling 428 shares during the quarter. Chubb comprises 1.2% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 24th biggest position. Plimoth Trust Co. LLC’s holdings in Chubb were worth $4,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sunflower Bank N.A. lifted its holdings in shares of Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock worth $273,000 after buying an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC increased its holdings in Chubb by 3.0% during the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 40 shares during the period. Unison Advisors LLC lifted its stake in Chubb by 0.3% in the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock worth $3,742,000 after purchasing an additional 41 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Chubb by 1.6% in the 4th quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 42 shares in the last quarter. Finally, Sage Mountain Advisors LLC boosted its holdings in Chubb by 1.7% in the 4th quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 42 shares during the period. 83.81% of the stock is owned by institutional investors.

Chubb Trading Down 0.6%

Shares of CB opened at $282.01 on Thursday. 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 fifty-two week low of $251.42 and a fifty-two week high of $306.91. The firm has a 50 day moving average price of $287.89 and a 200-day moving average price of $281.66. The firm has a market cap of $113.01 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.16 and a beta of 0.54.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share 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 during the quarter, compared to the consensus estimate of $11.22 billion. As a group, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.38%. Chubb’s dividend payout ratio is currently 18.67%.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. Keefe, Bruyette & Woods lowered their price objective on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research note on Wednesday, March 5th. UBS Group lifted their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Piper Sandler upped their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Finally, Barclays lowered their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $307.53.

Insider Buying and Selling

In other news, COO John W. Keogh purchased 9,810 shares of the company’s stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the transaction, the chief operating officer now directly owns 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. This represents a 4.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

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.