Woodstock Corp Cuts Holdings in Chubb Limited (NYSE:CB)

Woodstock Corp reduced its position in Chubb Limited (NYSE:CB) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,794 shares of the financial services provider’s stock after selling 744 shares during the quarter. Woodstock Corp’s holdings in Chubb were worth $8,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CB. Brighton Jones LLC raised its position in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Chubb in the 4th quarter valued at $205,000. Capital Investment Advisory Services LLC increased its holdings in Chubb by 7.7% in the 4th quarter. Capital Investment Advisory Services LLC now owns 990 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 71 shares in the last quarter. Crews Bank & Trust acquired a new stake in Chubb in the 4th quarter valued at $86,000. Finally, Caprock Group LLC increased its holdings in Chubb by 1.5% in the 4th quarter. Caprock Group LLC now owns 11,354 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 166 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of CB stock opened at $297.34 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company’s 50-day simple moving average is $288.05 and its 200-day simple moving average is $281.41. The stock has a market capitalization of $119.15 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.36 and a beta of 0.57.

Chubb (NYSE:CB) last issued its quarterly 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. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The business had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given 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 annualized dividend and a dividend yield of 1.30%. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares of the company’s stock, valued at $170,321,922.75. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This represents a 11.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,553 shares of company stock valued at $43,257,220. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Wells Fargo & Company increased their price target on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Barclays lowered their price target on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley increased their price target on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.