Oak Associates Ltd. OH Sells 48 Shares of Chubb Limited $CB

Oak Associates Ltd. OH trimmed its stake in Chubb Limited (NYSE:CB) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,633 shares of the financial services provider’s stock after selling 48 shares during the period. Chubb comprises about 1.6% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 21st largest position. Oak Associates Ltd. OH’s holdings in Chubb were worth $20,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CB. Legato Capital Management LLC grew its holdings in shares of Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after purchasing an additional 5,582 shares during the last quarter. Davis Rea LTD. bought a new stake in shares of Chubb during the first quarter worth $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of 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 during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Chubb by 9.1% during the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 46 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Up 0.4%

NYSE:CB opened at $272.96 on Thursday. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The business’s 50-day moving average price is $276.11 and its two-hundred day moving average price is $282.55. 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 capitalization of $108.83 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 3.07 and a beta of 0.53.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.38 earnings per share. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid 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 currently 17.12%.

Chubb declared that its board has authorized a share buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on CB shares. UBS Group decreased their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Citigroup assumed coverage on Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. HSBC lowered Chubb from a “buy” rating to a “hold” rating and cut their price target for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Cantor Fitzgerald raised Chubb to a “hold” rating in a research note on Wednesday, August 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $302.00.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company’s stock, 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. Corporate insiders own 0.77% of the company’s stock.

Chubb Company Profile

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.