Northeast Investment Management Sells 729 Shares of Chubb Limited (NYSE:CB)

Northeast Investment Management cut its position in shares of Chubb Limited (NYSE:CB) by 19.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,081 shares of the financial services provider’s stock after selling 729 shares during the period. Northeast Investment Management’s holdings in Chubb were worth $930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Chubb by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock worth $10,072,097,000 after acquiring an additional 271,648 shares in the last quarter. FMR LLC increased its position in shares of Chubb by 0.6% during the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock worth $4,329,173,000 after purchasing an additional 91,892 shares in the last quarter. Capital World Investors increased its position in shares of Chubb by 1.9% during the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider’s stock worth $3,172,194,000 after purchasing an additional 212,889 shares in the last quarter. Capital Research Global Investors lifted its holdings in Chubb by 1.5% during the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider’s stock valued at $2,457,402,000 after purchasing an additional 131,075 shares during the last quarter. Finally, Demars Financial Group LLC boosted its position in Chubb by 26,761.4% in the fourth 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 buying an additional 5,340,499 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Down 1.2%

Shares of CB opened at $286.25 on Wednesday. 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 12-month low of $251.42 and a 12-month high of $306.91. The firm has a market capitalization of $114.71 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The stock’s fifty day simple moving average is $287.07 and its 200-day simple moving average is $281.75.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.22 billion. As a group, research analysts predict 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. Shareholders of record on Friday, June 13th will be paid a $0.97 dividend. This is a positive change 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 yield of 1.36%. Chubb’s dividend payout ratio is presently 18.67%.

Chubb declared that its board has initiated a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

CB has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company boosted their price objective on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $307.53.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the stock in a transaction dated Friday, March 14th. The stock was 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,619 shares of company stock valued at $35,758,738. 0.77% of the stock is currently owned by company insiders.

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.