Chubb Limited (NYSE:CB) Stock Holdings Decreased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC trimmed its stake in shares of Chubb Limited (NYSE:CB) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,666 shares of the financial services provider’s stock after selling 615 shares during the quarter. Chubb comprises 1.4% of Chesley Taft & Associates LLC’s portfolio, making the stock its 19th largest position. Chesley Taft & Associates LLC’s holdings in Chubb were worth $29,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Peoples Bank KS purchased a new position in shares of Chubb during the 1st quarter valued at $25,000. Sierra Ocean LLC bought a new position in shares of Chubb in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the fourth quarter worth $29,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of 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 purchasing an additional 89 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 1.5%

NYSE CB opened at $291.98 on Thursday. The firm has a market capitalization of $117.00 billion, a PE ratio of 12.85, a P/E/G ratio of 3.36 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $251.42 and a twelve month high of $306.91. The stock’s 50 day moving average is $288.02 and its 200 day moving average is $281.63.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The business had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has authorized a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.33%. This is an increase from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 85,083 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,553 shares of company stock worth $40,387,620. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CB. Barclays reduced their price objective 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 shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a report on Tuesday, May 20th. Raymond James reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average price target of $307.53.

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.