Chubb Limited $CB Shares Sold by First Hawaiian Bank

First Hawaiian Bank decreased its position in Chubb Limited (NYSE:CB) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,191 shares of the financial services provider’s stock after selling 1,016 shares during the quarter. First Hawaiian Bank’s holdings in Chubb were worth $1,870,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legato Capital Management LLC raised its holdings in Chubb by 120.9% in the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock valued at $3,080,000 after acquiring an additional 5,582 shares in the last quarter. Jump Financial LLC raised its holdings in Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after purchasing an additional 7,065 shares in the last quarter. Davis Rea LTD. acquired a new stake in Chubb during the first quarter worth approximately $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 366,559 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Chubb by 3.3% during the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after purchasing an additional 1,375 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was purchased 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 owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $278.02 on Friday. The company’s 50 day simple moving average is $274.38 and its 200-day simple moving average is $283.34. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $110.84 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 3.19 and a beta of 0.56.

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. As a group, equities analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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%.

Analysts Set New Price Targets

A number of research firms have weighed in on CB. Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and cut their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Citigroup initiated coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $283.00 target price (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $302.00.

About Chubb

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.