16,944 Shares in Chubb Limited (NYSE:CB) Acquired by Davis Rea LTD.

Davis Rea LTD. acquired a new position in Chubb Limited (NYSE:CB) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,944 shares of the financial services provider’s stock, valued at approximately $5,117,000. Chubb makes up about 1.4% of Davis Rea LTD.’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Peoples Bank KS purchased a new stake in shares of Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in Chubb in the 1st quarter worth $25,000. North Capital Inc. purchased a new position in Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. purchased a new position in Chubb in the 1st quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.5%

NYSE CB traded up $1.45 during mid-day trading on Thursday, reaching $271.60. 253,291 shares of the stock were exchanged, compared to its average volume of 1,770,768. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The business’s fifty day simple moving average is $285.47 and its 200 day simple moving average is $282.21. The stock has a market capitalization of $108.84 billion, a PE ratio of 11.96, a PEG ratio of 3.09 and a beta of 0.53. 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 (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.55%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business earned $5.38 EPS. Chubb’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a $0.97 dividend. The ex-dividend date was Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.43%. Chubb’s payout ratio is 18.67%.

Chubb announced that its board has approved a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on CB. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective for the company. in a research note on Tuesday, May 20th. UBS Group lifted their price objective on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley lifted their price objective on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average price target of $303.67.

Insider Activity

In related news, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer owned 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 disclosure for this sale can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 over the last ninety days. Company insiders own 0.77% of the company’s stock.

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.