Scotia Capital Inc. Lowers Stock Position in Chubb Limited (NYSE:CB)

Scotia Capital Inc. decreased its position in shares of Chubb Limited (NYSE:CB) by 52.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,042 shares of the financial services provider’s stock after selling 1,155 shares during the period. Scotia Capital Inc.’s holdings in Chubb were worth $202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Desjardins Global Asset Management Inc. grew its stake in Chubb by 1.3% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 4,007 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 51 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in Chubb by 10.1% during the first quarter. Carolinas Wealth Consulting LLC now owns 555 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 51 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Chubb by 5.0% in the first quarter. Procyon Advisors LLC now owns 1,130 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 54 shares in the last quarter. Mission Wealth Management LP increased its stake in Chubb by 0.5% in the first quarter. Mission Wealth Management LP now owns 10,614 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 55 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in Chubb by 4.9% during the first quarter. Zions Bancorporation N.A. now owns 1,168 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 55 shares in the last quarter. 87.39% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $201.63 on Monday. The firm has a market capitalization of $82.82 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.11 and a beta of 0.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.34 and a quick ratio of 0.34. The business’s 50 day simple moving average is $197.07 and its 200-day simple moving average is $198.18. Chubb Limited has a 12 month low of $173.78 and a 12 month high of $231.37.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 EPS for the quarter, topping the consensus estimate of $4.41 by $0.51. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $11.24 billion. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.20 EPS. As a group, equities analysts forecast that Chubb Limited will post 18.18 earnings per share for the current fiscal year.

Chubb declared that its board has authorized a stock repurchase plan on Monday, June 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 15th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.71%. Chubb’s dividend payout ratio (DPR) is 24.71%.

Insider Activity

In related news, Director Theodore Shasta sold 699 shares of Chubb stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $201.94, for a total transaction of $141,156.06. Following the completion of the sale, the director now owns 14,511 shares in the company, valued at approximately $2,930,351.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Annmarie T. Hagan sold 1,187 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $211.81, for a total transaction of $251,418.47. Following the completion of the sale, the chief accounting officer now directly owns 13,234 shares of the company’s stock, valued at approximately $2,803,093.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore Shasta sold 699 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $201.94, for a total value of $141,156.06. Following the completion of the transaction, the director now directly owns 14,511 shares in the company, valued at $2,930,351.34. The disclosure for this sale can be found here. Insiders have sold 12,534 shares of company stock worth $2,635,175 over the last three months. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CB shares. BMO Capital Markets increased their target price on shares of Chubb from $200.00 to $210.00 in a research report on Thursday, July 27th. JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Chubb in a research report on Wednesday, July 26th. Citigroup upped their price target on shares of Chubb from $229.00 to $235.00 in a research report on Thursday, July 27th. Piper Sandler lowered their price objective on shares of Chubb from $248.00 to $237.00 in a research report on Thursday, July 6th. Finally, Barclays increased their target price on shares of Chubb from $260.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.79.

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.