Chubb Limited (NYSE:CB) Shares Sold by Victrix Investment Advisors

Victrix Investment Advisors reduced its position in Chubb Limited (NYSE:CB) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 11,810 shares of the financial services provider’s stock after selling 286 shares during the quarter. Chubb makes up approximately 1.8% of Victrix Investment Advisors’ investment portfolio, making the stock its 21st biggest position. Victrix Investment Advisors’ holdings in Chubb were worth $3,486,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Sunflower Bank N.A. increased its holdings in Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC boosted its position in shares of Chubb by 3.0% in the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after buying an additional 40 shares during the period. Unison Advisors LLC grew its stake in shares of Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after buying an additional 41 shares in the last quarter. Lindbrook Capital LLC raised 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 valued at $750,000 after buying an additional 42 shares during the period. Finally, Sage Mountain Advisors LLC lifted its position in 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 in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.4%

Shares of Chubb stock opened at $283.94 on Friday. The business has a 50-day moving average price of $287.84 and a 200 day moving average price of $281.65. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The firm has a market cap of $113.78 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.15 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, sell-side analysts forecast 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 issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost 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 is 18.67%.

Chubb announced that its Board of Directors has authorized a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CB. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research note on Wednesday, March 5th. Two equities research 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, Chubb currently has an average rating of “Moderate Buy” and a consensus target price of $307.53.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 9,794 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer now directly owns 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

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.