Chubb Limited (NYSE:CB) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 0.8% during the first quarter, HoldingsChannel.com reports. The firm owned 15,418 shares of the financial services provider’s stock after selling 120 shares during the period. Highland Capital Management LLC’s holdings in Chubb were worth $4,656,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CB. Peoples Bank KS acquired a new position in Chubb during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the first quarter valued at about $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Chubb during the fourth quarter valued at about $29,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Chubb by 254.3% during the fourth 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 in the last quarter. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the firm’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 sale, the chief operating officer now owns 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Chubb Price Performance

Shares of CB opened at $285.12 on Friday. The business’s 50-day moving average is $287.84 and its two-hundred day moving average is $281.73. The company has a market capitalization of $114.26 billion, a P/E ratio of 13.72, a P/E/G ratio of 3.15 and a beta of 0.54. 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.

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. The firm 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%. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has approved a share buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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 paid a dividend of $0.97 per share. This is a boost from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CB. Morgan Stanley upped their price target on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their price target on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Barclays cut their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods cut their target price on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.