Toroso Investments LLC Lowers Position in Chubb Limited (NYSE:CB)

Toroso Investments LLC reduced its stake in Chubb Limited (NYSE:CB) by 39.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,260 shares of the financial services provider’s stock after selling 3,465 shares during the period. Toroso Investments LLC’s holdings in Chubb were worth $1,021,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. One Capital Management LLC purchased a new stake in shares of Chubb in the 1st quarter valued at $237,000. FORVIS Wealth Advisors LLC grew its position in Chubb by 4.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,668 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 113 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in Chubb by 2.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 119,904 shares of the financial services provider’s stock worth $26,463,000 after purchasing an additional 2,765 shares during the period. Resources Investment Advisors LLC. boosted its stake in shares of Chubb by 138.7% in the first quarter. Resources Investment Advisors LLC. now owns 8,514 shares of the financial services provider’s stock valued at $1,653,000 after purchasing an additional 4,947 shares during the period. Finally, Applied Capital LLC FL acquired a new position in shares of Chubb in the fourth quarter valued at approximately $972,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Chubb Price Performance

CB opened at $214.10 on Tuesday. Chubb Limited has a 1 year low of $173.78 and a 1 year high of $231.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 0.34. The company’s 50 day simple moving average is $200.96 and its 200 day simple moving average is $197.36. The stock has a market capitalization of $87.94 billion, a PE ratio of 15.38, a P/E/G ratio of 1.17 and a beta of 0.65.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share for the quarter, topping analysts’ consensus estimates of $4.41 by $0.51. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $11.24 billion. During the same period in the prior year, the company earned $4.20 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Chubb Limited will post 18.18 EPS for the current year.

Chubb announced that its board has initiated a stock buyback program on Monday, June 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be paid a $0.86 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.61%. Chubb’s dividend payout ratio (DPR) is 24.71%.

Insider Activity

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 transaction, the chief accounting officer now owns 13,234 shares of the company’s stock, valued at $2,803,093.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Chubb news, COO John W. Keogh sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the sale, the chief operating officer now directly owns 265,184 shares in the company, valued at approximately $53,304,635.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Annmarie T. Hagan sold 1,187 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 13,234 shares in the company, valued at approximately $2,803,093.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,534 shares of company stock worth $4,645,275. 0.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price target on shares of Chubb in a research note on Tuesday, August 29th. Barclays upped their target price on Chubb from $260.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Citigroup lifted their price target on Chubb from $229.00 to $235.00 in a research report on Thursday, July 27th. Finally, BMO Capital Markets raised their price objective on shares of Chubb from $200.00 to $210.00 in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chubb has an average rating of “Moderate Buy” and an average price target of $242.79.

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