Chubb Limited (NYSE:CB) Position Raised by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its position in shares of Chubb Limited (NYSE:CB) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,592 shares of the financial services provider’s stock after purchasing an additional 1,218 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Chubb were worth $5,024,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Peoples Bank KS bought a new position in Chubb during the first quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the 1st quarter valued at about $25,000. North Capital Inc. acquired a new position in shares of Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Up 0.7%

NYSE:CB opened at $269.62 on Thursday. The stock has a market cap of $107.49 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week 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 stock’s 50-day moving average is $281.03 and its two-hundred day moving average is $282.31.

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 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 the consensus estimate of $12.53 billion. During the same period in the previous year, the firm posted $5.38 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.97 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 13th. Chubb’s dividend payout ratio is 17.12%.

Chubb announced that its board has initiated a share buyback 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have issued reports on CB. Morgan Stanley lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Evercore ISI set a $312.00 target price on Chubb in a report on Wednesday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Hsbc Global Res lowered Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $321.00 to $298.00 in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $301.50.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares in the company, 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. Over the last ninety days, insiders sold 100,390 shares of company stock worth $29,163,135. Corporate 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.