Cobblestone Capital Advisors LLC NY Purchases Shares of 1,783 Chubb Limited (NYSE:CB)

Key Points

• Cobblestone Capital Advisors LLC acquired 1,783 shares of Chubb Limited, valued at approximately $538,000, indicating growing institutional interest in the financial services provider.
• Chubb's recent quarterly earnings exceeded expectations with $6.14 earnings per share, outperforming the consensus estimate of $5.84, alongside a revenue increase to $14.20 billion.
• The company declared a quarterly dividend of $0.97 per share, raising the annualized dividend to $3.88, while also initiating a share repurchase program worth $5 billion, highlighting management's confidence in the stock's valuation.

Cobblestone Capital Advisors LLC NY purchased a new stake in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,783 shares of the financial services provider's stock, valued at approximately $538,000.

Several other large investors have also modified their holdings of CB. Sunflower Bank N.A. grew its stake in shares of Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 38 shares during the last quarter. Avantax Planning Partners Inc. grew its stake in shares of Chubb by 5.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Chubb by 0.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock valued at $2,524,000 after purchasing an additional 40 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its stake in shares of Chubb by 5.6% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 798 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 42 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC grew its stake in shares of Chubb by 56.6% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on CB shares. UBS Group reduced their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Citigroup started coverage on Chubb in a report on Wednesday. They issued a "buy" rating and a $326.00 price target for the company. HSBC cut Chubb from a "buy" rating to a "hold" rating and reduced their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $302.31.

Chubb Price Performance

Shares of NYSE CB traded down $0.12 during trading on Friday, reaching $275.62. The company had a trading volume of 514,213 shares, compared to its average volume of 1,781,423. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The stock has a market capitalization of $109.89 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The stock has a 50-day moving average price of $278.26 and a two-hundred day moving average price of $282.43. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the previous year, the firm posted $5.38 earnings per share. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb's dividend payout ratio (DPR) is 17.12%.

Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the sale, the chief operating officer owned 237,728 shares of the company's stock, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Corbat acquired 425 shares of the stock in a transaction dated Friday, July 25th. The stock was 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 of the company's stock, valued at approximately $661,010. This trade represents 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 over the last three months. 0.77% of the stock is currently owned by insiders.

About Chubb

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.