Chubb Limited (NYSE:CB) Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. cut its stake in shares of Chubb Limited (NYSE:CB) by 11.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,500 shares of the financial services provider’s stock after selling 203 shares during the period. First Dallas Securities Inc.’s holdings in Chubb were worth $389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Chubb in the fourth quarter worth about $957,756,000. Confluence Investment Management LLC purchased a new stake in shares of Chubb in the first quarter valued at approximately $165,932,000. Bank of Nova Scotia increased its holdings in shares of Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after purchasing an additional 518,535 shares during the last quarter. Lazard Asset Management LLC lifted its position in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after buying an additional 495,860 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Chubb by 19,454.2% in the fourth quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after buying an additional 482,854 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB stock traded down $6.95 during mid-day trading on Friday, reaching $255.08. The stock had a trading volume of 2,794,049 shares, compared to its average volume of 1,375,378. The company has a market cap of $103.58 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 6.29 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $275.41. The business has a 50-day simple moving average of $259.30 and a 200 day simple moving average of $248.48.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the firm earned $4.41 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Chubb Limited will post 21.15 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 annualized dividend and a yield of 1.43%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $280.00 price target on shares of Chubb in a research report on Monday, April 15th. HSBC reaffirmed a “hold” rating and issued a $270.00 price target (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $285.00 price objective on shares of Chubb in a research report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb has a consensus rating of “Hold” and an average price target of $266.70.

Insider Transactions at Chubb

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. Insiders sold a total of 47,552 shares of company stock valued at $12,149,985 over the last three months. 0.86% of the stock is currently owned by insiders.

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.