Chevy Chase Trust Holdings LLC Decreases Stock Position in Chubb Limited (NYSE:CB)

Chevy Chase Trust Holdings LLC reduced its position in Chubb Limited (NYSE:CB) by 0.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 198,737 shares of the financial services provider’s stock after selling 1,356 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Chubb were worth $60,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Sunflower Bank N.A. grew its holdings in shares of Chubb by 4.4% during the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 38 shares during the period. Tandem Wealth Advisors LLC grew its holdings in shares of 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 period. Unison Advisors LLC grew its holdings in shares of 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 period. Lindbrook Capital LLC grew its holdings in shares of Chubb by 1.6% during 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 during the period. Finally, Sage Mountain Advisors LLC grew its holdings in shares of Chubb by 1.7% during the 4th quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 42 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CB has been the topic of a number of research analyst reports. 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. 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. JPMorgan Chase & Co. raised their price objective on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Piper Sandler raised their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Finally, Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer now directly owns 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $288.19 on Tuesday. The business’s fifty day simple moving average is $287.88 and its two-hundred day simple moving average is $281.56. The company has a current ratio of 0.28, 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 company has a market cap of $115.48 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 3.16 and a beta of 0.54.

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

Chubb Increases Dividend

The firm 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 dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.35%. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

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

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.