Hemenway Trust Co LLC Sells 505 Shares of Chubb Limited (NYSE:CB)

Hemenway Trust Co LLC lowered its holdings in Chubb Limited (NYSE:CB) by 27.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,355 shares of the financial services provider’s stock after selling 505 shares during the quarter. Hemenway Trust Co LLC’s holdings in Chubb were worth $409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunflower Bank N.A. lifted its holdings in shares of Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC boosted its holdings in Chubb by 3.0% during the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 40 shares during the last quarter. Unison Advisors LLC boosted its holdings in Chubb by 0.3% during the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock worth $3,742,000 after acquiring an additional 41 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Chubb by 1.6% in the 4th quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider’s stock worth $750,000 after acquiring an additional 42 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its holdings in shares of Chubb by 1.7% in the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

CB opened at $283.87 on Wednesday. The firm has a 50-day moving average price of $287.94 and a 200-day moving average price of $281.66. Chubb Limited has a twelve month low of $251.42 and a twelve month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.19 and a beta of 0.54.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current year.

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

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given 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 annualized dividend and a dividend yield of 1.37%. Chubb’s payout ratio is 18.67%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 owns 237,728 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the sale, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. This trade represents a 13.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,108 shares of company stock worth $31,169,977. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft cut Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective on the stock. in a research report on Tuesday, May 20th. Finally, Piper Sandler boosted their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Chubb has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Chubb 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.