USA Financial Formulas Sells 410 Shares of Chubb Limited (NYSE:CB)

USA Financial Formulas decreased its position in Chubb Limited (NYSE:CB) by 23.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,376 shares of the financial services provider’s stock after selling 410 shares during the period. USA Financial Formulas’ holdings in Chubb were worth $416,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System lifted 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 valued at $373,110,000 after acquiring an additional 14,610 shares in the last quarter. Canopy Partners LLC increased its position in shares of Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 2,340 shares during the last quarter. Vista Investment Partners II LLC acquired a new position in shares of Chubb during the 4th quarter worth approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Chubb during the 4th quarter worth approximately $1,158,897,000. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer now owns 247,538 shares of the company’s stock, valued at $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO George F. Ohsiek sold 763 shares of the company’s 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 transaction, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,619 shares of company stock worth $35,758,738 in the last ninety days. 0.77% of the stock is owned by insiders.

Chubb Stock Performance

NYSE:CB opened at $286.25 on Wednesday. The stock has a fifty day moving average price of $287.07 and a 200-day moving average price of $281.75. The company has a market cap of $114.71 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 3.36 and a beta of 0.54. 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 fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping 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 business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. As a group, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

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

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio is currently 18.67%.

Analyst Ratings Changes

Several research firms have weighed in on CB. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Barclays decreased their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, HSBC raised 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.