Chevy Chase Trust Holdings LLC Has $60.02 Million Stock Position in Chubb Limited (NYSE:CB)

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Chubb Limited (NYSE:CB) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,737 shares of the financial services provider’s stock after selling 1,356 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Chubb were worth $60,017,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CB. Brighton Jones LLC grew its stake in Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new position in Chubb in the fourth quarter worth approximately $205,000. Bank Pictet & Cie Europe AG bought a new position in Chubb in the fourth quarter worth approximately $1,320,000. Howard Capital Management Inc. bought a new position in Chubb in the fourth quarter worth approximately $725,000. Finally, MONECO Advisors LLC boosted its holdings in Chubb by 28.2% in the fourth quarter. MONECO Advisors LLC now owns 1,757 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $288.19 on Tuesday. The business’s fifty day simple moving average is $287.88 and its 200 day simple moving average is $281.56. The firm has a market capitalization of $115.48 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 3.16 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

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

Chubb Increases Dividend

The firm also recently declared 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. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, June 13th. Chubb’s dividend payout ratio (DPR) is 18.67%.

Insider Buying and Selling

In other news, COO John W. Keogh bought 9,810 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was acquired at an average cost of $292.99 per share, with a total value of $2,874,231.90. Following the completion of the transaction, the chief operating officer now directly owns 247,538 shares of the company’s stock, valued at $72,526,158.62. This represents a 4.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CB has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Barclays cut their price target on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a report on Wednesday, March 5th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Piper Sandler increased their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have given 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

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.