Unio Capital LLC Trims Stock Position in Chubb Limited $CB

Unio Capital LLC cut its holdings in shares of Chubb Limited (NYSE:CB) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 97,139 shares of the financial services provider’s stock after selling 811 shares during the period. Chubb accounts for approximately 11.3% of Unio Capital LLC’s portfolio, making the stock its 2nd biggest position. Unio Capital LLC’s holdings in Chubb were worth $29,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. United American Securities Inc. d b a UAS Asset Management grew its position in shares of Chubb by 14.4% in the 1st quarter. United American Securities Inc. d b a UAS Asset Management now owns 46,031 shares of the financial services provider’s stock valued at $13,901,000 after purchasing an additional 5,785 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new position in shares of Chubb in the 1st quarter valued at approximately $213,000. Rise Advisors LLC grew its position in shares of Chubb by 4.6% in the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 37 shares during the period. Royal Capital Wealth Management LLC acquired a new position in shares of Chubb in the 1st quarter valued at approximately $204,000. Finally, Nissay Asset Management Corp Japan ADV grew its position in shares of Chubb by 1.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 47,430 shares of the financial services provider’s stock valued at $14,323,000 after purchasing an additional 519 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael Corbat acquired 425 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of the company’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 sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research report on Wednesday, August 13th. Morgan Stanley decreased their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Citigroup initiated coverage on Chubb in a research report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price objective for the company. Piper Sandler restated a “neutral” rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Evercore ISI set a $312.00 target price on Chubb in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $302.00.

Chubb Price Performance

NYSE:CB opened at $277.32 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock’s 50-day simple moving average is $274.97 and its 200 day simple moving average is $283.17. The company has a market cap of $110.56 billion, a P/E ratio of 12.23, a P/E/G ratio of 3.13 and a beta of 0.56. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the prior year, the business posted $5.38 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s dividend payout ratio is currently 17.12%.

Chubb 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.