Aptus Capital Advisors LLC Trims Stock Position in Chubb Limited $CB

Aptus Capital Advisors LLC lessened its stake in shares of Chubb Limited (NYSE:CB) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,516 shares of the financial services provider’s stock after selling 219 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Chubb were worth $1,968,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CB. GQG Partners LLC lifted its position in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after buying an additional 4,964,298 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after buying an additional 2,078,390 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Chubb during the 1st quarter worth approximately $562,221,000. Royal Bank of Canada lifted its position in shares of Chubb by 46.7% during the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after buying an additional 1,403,545 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Chubb during the 4th quarter worth approximately $336,972,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh bought 9,810 shares of Chubb stock in a transaction on Friday, June 6th. The stock was bought at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the completion of the acquisition, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Corbat bought 425 shares of Chubb stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company’s stock, valued at $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by insiders.

Chubb Stock Performance

NYSE:CB opened at $279.4320 on Thursday. The firm’s fifty day moving average price is $277.15 and its 200 day moving average price is $282.46. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $111.41 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the firm posted $5.38 EPS. Chubb’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has approved a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CB. Piper Sandler restated a “neutral” rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Morgan Stanley cut their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a report on Monday. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and cut their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. Evercore ISI set a $312.00 target price on shares of Chubb in a report on Wednesday, July 23rd. Finally, Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $302.00.

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.