Chubb Limited (NYSE:CB) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. reduced its position in Chubb Limited (NYSE:CB) by 3.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 65,042 shares of the financial services provider’s stock after selling 2,157 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Chubb were worth $19,642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in shares of Chubb in the 1st quarter worth about $25,000. Sierra Ocean LLC acquired a new stake in Chubb during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Chubb in the fourth quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new position in Chubb during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut their price objective on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. UBS Group upped their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Finally, HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued 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.

Chubb Stock Performance

Chubb stock opened at $289.83 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a fifty day moving average price of $287.40 and a two-hundred day moving average price of $281.71. The company has a market cap of $116.14 billion, a PE ratio of 12.76, a P/E/G ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate 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 net margin of 16.63% and a return on equity of 13.75%. Research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.34%. Chubb’s dividend payout ratio is 18.67%.

Chubb declared that its board has initiated a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in 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 typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, COO John W. Keogh sold 85,083 shares of the business’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 transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer now directly owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,825 shares of company stock valued at $32,889,194. Insiders own 0.77% of the company’s stock.

Chubb Company 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.