Burney Co. Cuts Holdings in Chubb Limited (NYSE:CB)

Burney Co. lessened its stake in Chubb Limited (NYSE:CB) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,177 shares of the financial services provider’s stock after selling 189 shares during the period. Burney Co.’s holdings in Chubb were worth $2,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Peoples Bank KS bought a new stake in shares of Chubb in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $31,000. Finally, Cherry Tree Wealth Management LLC lifted its holdings in shares of Chubb by 56.6% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CB shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Jefferies Financial Group boosted their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. UBS Group boosted their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Finally, Barclays downgraded shares of 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 report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.13.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer owned 237,728 shares in the company, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock valued at $29,163,135 over the last quarter. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Down 3.2%

NYSE CB opened at $269.94 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $285.47 and a two-hundred day moving average of $282.21. The firm has a market capitalization of $108.17 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 3.09 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) 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 firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the firm earned $5.38 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.44%. Chubb’s payout ratio is currently 18.67%.

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

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.