Chubb Limited (NYSE:CB) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. lowered its holdings in Chubb Limited (NYSE:CB) by 30.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,441 shares of the financial services provider’s stock after selling 10,090 shares during the period. Chubb makes up 2.1% of Shikiar Asset Management Inc.’s portfolio, making the stock its 18th biggest position. Shikiar Asset Management Inc.’s holdings in Chubb were worth $7,079,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Sowell Financial Services LLC acquired a new stake in shares of Chubb in the first quarter worth $660,000. Janney Montgomery Scott LLC grew its holdings in Chubb by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 293,404 shares of the financial services provider’s stock valued at $88,605,000 after purchasing an additional 36,004 shares in the last quarter. Northstar Group Inc. grew its holdings in Chubb by 16.6% during the 1st quarter. Northstar Group Inc. now owns 3,054 shares of the financial services provider’s stock valued at $922,000 after purchasing an additional 435 shares in the last quarter. Mission Wealth Management LP grew its holdings in Chubb by 20.8% during the 1st quarter. Mission Wealth Management LP now owns 11,250 shares of the financial services provider’s stock valued at $3,397,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Brown Miller Wealth Management LLC grew its holdings in Chubb by 16.1% during the 1st quarter. Brown Miller Wealth Management LLC now owns 14,940 shares of the financial services provider’s stock valued at $4,512,000 after purchasing an additional 2,076 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CB. Keefe, Bruyette & Woods lowered their price target on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Finally, UBS Group increased their price objective 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb currently has an average rating of “Moderate Buy” and an average target price of $307.53.

Chubb Stock Down 0.9%

CB stock opened at $286.59 on Monday. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company has a market capitalization of $114.84 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The firm’s 50-day moving average is $287.72 and its two-hundred day moving average is $281.66. 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 (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 company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 13th. This is an increase 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 payout ratio is presently 18.67%.

Chubb announced that its Board of Directors has initiated a share repurchase 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 buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Chubb

In other news, 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 value of $24,694,489.92. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,856 shares of company stock valued at $35,537,155. Corporate insiders own 0.77% of the company’s stock.

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.