Chubb Limited $CB Shares Sold by RWA Wealth Partners LLC

by · The Cerbat Gem

RWA Wealth Partners LLC lessened its stake in Chubb Limited (NYSE:CB – Free Report) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,725 shares of the financial services provider’s stock after selling 1,134 shares during the quarter. RWA Wealth Partners LLC’s holdings in Chubb were worth $20,452,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Peoples Bank KS acquired a new position in shares of Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the 1st quarter valued at $25,000. North Capital Inc. acquired a new position in shares of Chubb during the 1st quarter valued at $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb during the 1st quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 in the last quarter. Insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB opened at $274.16 on Monday. The company has a 50-day moving average of $277.86 and a 200-day moving average of $282.54. The company has a market capitalization of $109.30 billion, a P/E ratio of 12.09, a PEG ratio of 3.09 and a beta of 0.53. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB – Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the firm earned $5.38 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb declared that its board has approved a stock repurchase program on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Chubb Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Evercore ISI set a $312.00 target price on shares of Chubb in a report on Wednesday, July 23rd. Citigroup initiated coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $302.31.

View Our Latest Research Report on CB

Chubb Profile

(Free Report)

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.

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