Gradient Investments LLC Sells 1,940 Shares of Chubb Limited (NYSE:CB)

Gradient Investments LLC lowered its stake in Chubb Limited (NYSE:CB) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,093 shares of the financial services provider’s stock after selling 1,940 shares during the period. Gradient Investments LLC’s holdings in Chubb were worth $14,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Peoples Bank KS purchased a new stake in shares of Chubb in the 1st quarter worth about $25,000. Sierra Ocean LLC purchased a new stake in shares of Chubb during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the 4th quarter valued at about $29,000. Strategic Financial Concepts LLC purchased a new stake in Chubb in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings 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 in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE CB opened at $297.34 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The company has a market cap of $119.15 billion, a PE ratio of 13.09, a P/E/G ratio of 3.36 and a beta of 0.57. The business has a 50-day simple moving average of $288.05 and a two-hundred day simple moving average of $281.37. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. As a group, equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business 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 $0.97 dividend. The ex-dividend date is 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 1.30%. Chubb’s payout ratio is presently 18.67%.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CB shares. JPMorgan Chase & Co. upped their price target on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Jefferies Financial Group raised their price target on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Piper Sandler raised their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.53.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 10,000 shares of the company’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 transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This represents a 11.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO John W. Keogh sold 85,083 shares of the company’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 value of $24,694,489.92. Following the transaction, the chief operating officer now directly owns 237,728 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 148,553 shares of company stock valued at $43,257,220. 0.77% of the stock is owned by company insiders.

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.