Polaris Capital Management LLC, a prominent investment firm, has recently sold 3.4% of its stake in Chubb Limited (NYSE:CB), according to a recent filing with the Securities and Exchange Commission. The financial services provider currently accounts for about 2.1% of Polaris Capital Management LLC’s investment portfolio, being the thirteenth biggest holding.
Despite this recent sale, Chubb Limited has continued to deliver strong earnings results. The company recently reported earnings per share (EPS) of $4.41 for the quarter ending April 25th, which exceeded analysts’ EPS estimates by $0.04.
Notably, the company’s net margin increased to 11.71%, while its return on equity stood at 13.13%. Furthermore, Chubb’s revenue totaled $9.42 billion during this quarter, rising by 9.3% compared to the same quarter last year.
The company seems optimistic about its future earnings projections as well since research analysts predict that it will post $17.58 EPS for the current fiscal year.
There have been some recent insider trades in Chubb stocks as well, with COO John W. Keogh selling off shares worth over $5 million at an average price of $212.18 per share in February 2023. Theodore Shasta, another Director of the company sold 1,000 shares in March at an average price of $189.73 per share.
These recent developments show that though there has been some reduction in stock ownership by key investors, Chubb continues to perform strongly and retain investor confidence.
In summary, Chubb’s quarterly and yearly financial reports indicate exceptional performance levels that may excite investors seeking a reliable long-term investment strategy amidst economic uncertainties and challenge posed by rival companies taking a different approach to their services provision despite prevailing technological advances in finance today.
Chubb Limited experiences decrease in trading, but institutional investors show confidence
Chubb Limited experienced a decrease in trading on May 12th, with its shares dropping by $1.93 to reach $199.46. About 332,745 shares exchanged hands which is lower than the average volume of 1,761,043 shares. The company’s market capitalization is reported to be $82.61 billion and its P/E ratio is at 16.16. Moreover, it has a price-to-earnings-growth ratio of 1.13 and a beta of 0.64, meaning that the stock’s volatile nature is more stable compared with the wider market as a whole.
The financial services provider’s stock was recently sold by several hedge fund firms who also added to their holdings throughout last year’s final quarter and this year’s first quarter too. Bank of New York Mellon Corp raised its stocks in Chubb by almost seven percent during Q3-2018 and currently owns 5,282,359 shares valued at $960,755,000 after buying an additional 338,463 shares in the last quarter; Boston Partners acquired over one hundred thousand extra shares in the same period boosting its position in Chubb’s stocks; Charles Schwab Investment Management Inc also increased their ownership of Chubb’s stocks by more than three percent; Dimensional Fund Advisors boosted their positions by more than three times during the third quarter; Robeco Institutional Asset Management B.V meanwhile increased their stake by thirty-three percent.
It should be noted that institutional investors own about eighty-seven percent of the company’s stock which points towards strong confidence from large-scale investors.
In other news on Chubb Limited for February to March this year relating to insider activity; COO John W. Keogh sold over twenty-three thousand shares amounting to over five million dollars while Theodore Shasta sold one thousand business stocks worth approximately two hundred thousand dollars.
Regarding dividend policy- on Monday April 10th this year, Chubb declared a quarterly dividend which was given to the investors of record on Friday March 17th. The sum of the dividend paid out was an annualized $3.32 which represented a yield of 1.66%. The ex-dividend date of this payout was March 16th while the company’s payout ratio during that time period stood at around 26.65%.
Recommendations on Chubb stocks from several ratings agencies have been positive in nature since April including: Citigroup who upgraded their shares of Chubb from ‘neutral’ to ‘buy’ rating and set a target price for the company at $229.00; BMO Capital Markets gave the company a ‘market perform’ rating with a $225 price objective; Jefferies Financial Group rated them as “hold” with $221 as its new price objective, Evercore ISI provided an “outperform” rating and lowered their price mark by about seventeen dollars whereas StockNews.com raised it to a “buy”. According to Bloomberg.com, Chubb currently has an overall analyst consensus rating of “Moderate Buy”, along with a consensus price target on its stocks valued at $243.54.
