Portland Global Advisors LLC Sells 94 Shares of Chubb Limited (NYSE:CB)

Portland Global Advisors LLC cut its stake in Chubb Limited (NYSE:CB) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,043 shares of the financial services provider’s stock after selling 94 shares during the quarter. Portland Global Advisors LLC’s holdings in Chubb were worth $3,033,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nemes Rush Group LLC raised its holdings in Chubb by 1.9% in the first quarter. Nemes Rush Group LLC now owns 59,008 shares of the financial services provider’s stock worth $17,820,000 after purchasing an additional 1,089 shares during the period. First National Advisers LLC increased its position in shares of Chubb by 11.5% in the 1st quarter. First National Advisers LLC now owns 14,189 shares of the financial services provider’s stock valued at $4,285,000 after buying an additional 1,468 shares in the last quarter. LPL Financial LLC raised its stake in Chubb by 15.9% during the 1st quarter. LPL Financial LLC now owns 434,630 shares of the financial services provider’s stock worth $131,254,000 after buying an additional 59,525 shares during the period. Mitchell Sinkler & Starr PA raised its stake in Chubb by 13.0% during the 1st quarter. Mitchell Sinkler & Starr PA now owns 3,139 shares of the financial services provider’s stock worth $948,000 after buying an additional 360 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Chubb by 2.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,284 shares of the financial services provider’s stock worth $55,350,000 after acquiring an additional 4,294 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Down 0.3%

Chubb stock opened at $269.28 on Monday. The firm has a 50-day moving average of $284.54 and a 200-day moving average of $282.46. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.28. The company has a market cap of $107.91 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 3.07 and a beta of 0.53.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $5.38 earnings per share. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 17.12%.

Insider Activity at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer directly owned 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock worth $29,163,135 in the last ninety days. 0.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler restated a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday. UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a report on Tuesday, May 20th. Morgan Stanley upped their price target on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Chubb presently has an average rating of “Moderate Buy” and an average price target of $302.64.

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.