Hodges Capital Management Inc. Reduces Stock Position in Chubb Limited (NYSE:CB)

Hodges Capital Management Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 80.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,126 shares of the financial services provider’s stock after selling 16,643 shares during the period. Hodges Capital Management Inc.’s holdings in Chubb were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rossmore Private Capital lifted its position in Chubb by 1.6% in the fourth quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 41 shares during the last quarter. MCF Advisors LLC boosted its position in shares of Chubb by 4.2% in the 4th quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 42 shares during the period. Angeles Investment Advisors LLC grew its stake in Chubb by 2.1% during the 4th quarter. Angeles Investment Advisors LLC now owns 2,027 shares of the financial services provider’s stock worth $460,000 after buying an additional 42 shares during the last quarter. AdvisorNet Financial Inc increased its position in Chubb by 5.2% during the fourth quarter. AdvisorNet Financial Inc now owns 886 shares of the financial services provider’s stock worth $200,000 after buying an additional 44 shares during the period. Finally, Valley National Advisers Inc. lifted its stake in Chubb by 0.9% in the fourth quarter. Valley National Advisers Inc. now owns 5,113 shares of the financial services provider’s stock valued at $1,155,000 after buying an additional 44 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Down 2.7 %

Shares of CB stock opened at $255.08 on Friday. The business’s fifty day moving average price is $259.30 and its 200 day moving average price is $248.63. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $275.41. The firm has a market capitalization of $103.58 billion, a PE ratio of 11.32, a P/E/G ratio of 6.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

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

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.91 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 annualized dividend and a yield of 1.43%. Chubb’s dividend payout ratio is 16.16%.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares in the company, valued at $12,199,649.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares in the company, valued at $2,036,085.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,552 shares of company stock valued at $12,149,985. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $285.00 price objective on shares of Chubb in a research note on Friday. HSBC reiterated a “hold” rating and issued a $270.00 price objective (down previously from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Keefe, Bruyette & Woods reduced their price objective on Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. Piper Sandler reiterated an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $280.00 price objective on shares of Chubb in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $266.70.

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.