Arden Trust Co decreased its holdings in shares of Chubb Limited (NYSE: CB – Get Rating) by 42.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,010 shares of the financial services provider’s stock after selling 746 shares during the quarter. Arden Trust Co’s holdings in Chubb were worth $ 216,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Atalanta Sosnoff Capital LLC purchased a new position in shares of Chubb during the first quarter worth about $ 10,997,000. Harbor Capital Advisors LLC grew its holdings in shares of Chubb by 0.9% during the first quarter. Harbor Capital Advisors LLC now owns 14,216 shares of the financial services provider’s stock worth $ 3,041,000 after purchasing an additional 120 shares in the last quarter. Barber Financial Group Inc. purchased a new position in shares of Chubb during the first quarter worth about $ 397,000. US Asset Management LLC purchased a new position in shares of Chubb during the first quarter worth about $ 182,000. Finally, Atwater Malick LLC purchased a new position in shares of Chubb during the first quarter worth about $ 220,000. 88.86% of the stock is owned by institutional investors.
NYSE: CB opened at $ 189.47 on Wednesday. The firm has a market cap of $ 80.28 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73. Chubb Limited has a fifty-two week low of $ 157.19 and a fifty-two week high of $ 218.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50 day moving average price of $ 206.37 and a 200-day moving average price of $ 203.24.
Chubb (NYSE: CB – Get Rating) last announced its earnings results on Tuesday, April 26th. The financial services provider reported $ 3.82 EPS for the quarter, beating analysts’ consensus estimates of $ 3.48 by $ 0.34. Chubb had a return on equity of 10.30% and a net margin of 19.65%. During the same quarter in the prior year, the firm earned $ 2.52 earnings per share. Research analysts predict that Chubb Limited will post 14.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 17th will be issued a dividend of $ 0.83 per share. This represents a $ 3.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 16th. This is an increase from Chubb’s previous quarterly dividend of $ 0.80. Chubb’s dividend payout ratio is currently 17.68%.
Chubb declared that its board has initiated a share repurchase program on Thursday, May 19th that permits the company to repurchase $ 2.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company management believes its shares are undervalued.
CB has been the subject of several research reports. Morgan Stanley cut their target price on Chubb from $ 224.00 to $ 216.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Royal Bank of Canada upped their target price on Chubb from $ 230.00 to $ 239.00 and gave the stock an “outperform” rating in a research note on Monday, April 4th. Raymond James upped their target price on Chubb from $ 240.00 to $ 250.00 in a research note on Thursday, April 28th. Wells Fargo & Company upped their target price on Chubb from $ 230.00 to $ 240.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 12th. Finally, StockNews.com initiated coverage on Chubb in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Chubb currently has an average rating of “Moderate Buy” and an average target price of $ 225.14.
In related news, Director Michael G. Atieh sold 500 shares of the company stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $ 203.49, for a total transaction of $ 101,745.00. Following the completion of the transaction, the director now owns 38,340 shares in the company, valued at $ 7,801,806.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Theodore Shasta sold 812 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $ 209.18, for a total value of $ 169,854.16. Following the completion of the transaction, the director now owns 15,488 shares of the company stock, valued at approximately $ 3,239,779.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,824 shares of company stock valued at $ 29,574,333. 0.39% of the stock is owned by corporate insiders.
Chubb Company Profile: (Get Rating)
Chubb Limited provides insurance and reinsurance products worldwide. The company 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.
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