Robertson Stephens Wealth Management LLC Sells 117 Shares of Chubb Limited (NYSE:CB)

Robertson Stephens Wealth Management LLC reduced its stake in shares of Chubb Limited (NYSE:CB) by 8.6% during the first quarter, Holdings Channel reports. The institutional investor owned 1,237 shares of the financial services provider’s stock after selling 117 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Chubb were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in Chubb by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after buying an additional 14,610 shares in the last quarter. Canopy Partners LLC boosted its stake in shares of Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after acquiring an additional 2,340 shares during the period. Vista Investment Partners II LLC bought a new position in shares of Chubb in the fourth quarter worth about $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 366,559 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Chubb during the 4th quarter valued at approximately $1,158,897,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research analyst reports. Barclays lowered their price target on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Jefferies Financial Group boosted their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Buying and Selling

In other news, COO John W. Keogh purchased 9,810 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the acquisition, the chief operating officer now owns 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. This trade represents a 4.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Down 0.6%

Shares of NYSE CB opened at $282.01 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm’s 50-day moving average price is $287.88 and its 200-day moving average price is $281.60. The stock has a market capitalization of $113.01 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.14 and a beta of 0.54.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is presently 18.67%.

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.