MFA Wealth Services Lowers Holdings in Chubb Limited (NYSE:CB)

MFA Wealth Services trimmed its holdings in Chubb Limited (NYSE:CB) by 8.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,522 shares of the financial services provider’s stock after selling 147 shares during the period. MFA Wealth Services’ holdings in Chubb were worth $460,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its position in Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after acquiring an additional 14,610 shares during the period. Canopy Partners LLC grew its position in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after acquiring an additional 2,340 shares during the period. Vista Investment Partners II LLC purchased a new position in Chubb in the fourth quarter worth approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Chubb by 15.4% in the fourth 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 acquiring an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Chubb in the fourth quarter worth approximately $1,158,897,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,856 shares of company stock worth $35,537,155 over the last ninety days. Corporate insiders own 0.77% of the company’s stock.

Chubb Stock Down 0.9%

Shares of NYSE CB opened at $286.59 on Friday. The stock has a market cap of $114.84 billion, a P/E ratio of 12.61, a PEG ratio of 3.36 and a beta of 0.54. The company has a current ratio of 0.25, a quick ratio of 0.28 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 business’s fifty day simple moving average is $287.72 and its 200-day simple moving average is $281.72.

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, beating the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion for 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%. As a group, equities analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its board has authorized a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CB shares. UBS Group upped their price target on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Wells Fargo & Company upped their price target 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 research note on Wednesday, March 5th. Keefe, Bruyette & Woods decreased 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.53.

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.