Atwood & Palmer Inc. Sells 75 Shares of Chubb Limited (NYSE:CB)

Atwood & Palmer Inc. lowered its position in shares of Chubb Limited (NYSE:CB) by 36.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130 shares of the financial services provider’s stock after selling 75 shares during the quarter. Atwood & Palmer Inc.’s holdings in Chubb were worth $39,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. California Public Employees Retirement System boosted its stake in Chubb by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC raised its stake in shares of Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 2,340 shares during the period. Vista Investment Partners II LLC bought a new stake in shares of Chubb in the 4th quarter worth about $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Chubb by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Chubb during the 4th quarter valued at about $1,158,897,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 1.4%

Shares of Chubb stock opened at $289.83 on Tuesday. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm’s 50 day simple moving average is $287.40 and its two-hundred day simple moving average is $281.71. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $116.14 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 3.36 and a beta of 0.54.

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

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.34%. This is a boost from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s payout ratio is presently 18.67%.

Chubb announced that its board has approved a stock repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CB has been the topic of a number of analyst reports. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods reduced their price target on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Piper Sandler boosted their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Morgan Stanley upped their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned 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 a consensus price target of $307.53.

Insider Buying and Selling at Chubb

In related news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction on 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 now owns 237,728 shares of the company’s stock, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,825 shares of company stock worth $32,889,194. Company 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.