Teza Capital Management LLC Makes New $6.94 Million Investment in Chubb Limited (NYSE:CB)

Teza Capital Management LLC purchased a new position in Chubb Limited (NYSE:CB) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 25,127 shares of the financial services provider’s stock, valued at approximately $6,943,000. Chubb comprises 1.1% of Teza Capital Management LLC’s holdings, making the stock its 10th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Demars Financial Group LLC raised its position in shares of Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after acquiring an additional 5,340,499 shares in the last quarter. Norges Bank acquired a new stake in Chubb in the fourth quarter worth $1,169,720,000. Raymond James Financial Inc. acquired a new stake in Chubb in the fourth quarter worth $1,158,897,000. Royal Bank of Canada increased its position in Chubb by 46.7% in the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after buying an additional 1,403,545 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Chubb in the fourth quarter worth $336,972,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. HSBC raised 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. Piper Sandler raised their price target on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Jefferies Financial Group raised their price target on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.86.

Chubb Trading Up 0.7%

NYSE:CB opened at $294.19 on Friday. 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 1-year low of $251.42 and a 1-year high of $306.91. The firm has a market capitalization of $117.89 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The stock has a fifty day simple moving average of $288.43 and a 200 day simple moving average of $280.67.

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

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, June 13th. Chubb’s dividend payout ratio is currently 17.52%.

Chubb declared that its Board of Directors has authorized a share buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. This trade represents a 11.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,470 shares of company stock valued at $18,562,730. Corporate insiders own 0.77% of the company’s stock.

Chubb 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.