Freedom Investment Management Inc. Reduces Stake in Chubb Limited $CB

Freedom Investment Management Inc. reduced its position in Chubb Limited (NYSE:CB) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,719 shares of the financial services provider’s stock after selling 63 shares during the period. Freedom Investment Management Inc.’s holdings in Chubb were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GQG Partners LLC boosted its stake in shares of Chubb by 112.1% in 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. Demars Financial Group LLC boosted its stake in shares of Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after buying an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after buying an additional 304,751 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Chubb by 46.7% in 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, Northern Trust Corp boosted its stake in shares of Chubb by 15.3% in the 4th quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider’s stock worth $1,084,133,000 after buying an additional 522,049 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chubb news, COO John W. Keogh acquired 9,810 shares of the stock in a transaction dated Friday, June 6th. The shares were acquired at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at approximately $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 SEC, which is available through the SEC website. Also, Director Michael Corbat acquired 425 shares of the stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock opened at $271.99 on Wednesday. The stock’s 50-day simple moving average is $276.29 and its 200-day simple moving average is $282.62. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a market capitalization of $108.44 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 3.10 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb announced that its Board of Directors has initiated a stock 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 repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Chubb Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CB shares. Citigroup started coverage on Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 target price on the stock. Wells Fargo & Company lowered their target price on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft downgraded Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Evercore ISI set a $312.00 target price on Chubb in a research report on Wednesday, July 23rd. Finally, Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.