Inscription Capital LLC bought a new stake in Chubb Limited (NYSE:CB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,208 shares of the financial services provider's stock, valued at approximately $2,177,000.
Other hedge funds also recently modified their holdings of the company. Demars Financial Group LLC boosted its position in Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the last quarter. Norges Bank acquired a new position in Chubb in the 4th quarter valued at $1,169,720,000. Raymond James Financial Inc. purchased a new position in shares of Chubb during the 4th quarter worth $1,158,897,000. GAMMA Investing LLC lifted its stake in shares of Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock worth $629,357,000 after purchasing an additional 2,078,390 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Hsbc Global Res upgraded Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. UBS Group upped their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Morgan Stanley raised their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays lowered their target price on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chubb has an average rating of "Moderate Buy" and a consensus target price of $307.53.
Get Our Latest Stock Analysis on Chubb
Chubb Trading Down 0.2%
NYSE:CB opened at $286.20 on Tuesday. The business's 50-day moving average is $287.96 and its two-hundred day moving average is $281.64. The firm has a market capitalization of $114.69 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.
Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate 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 13.75% and a net margin of 16.63%. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, June 13th. Chubb's payout ratio is presently 18.67%.
Chubb announced that its board has initiated a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Activity
In related news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 12,231 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares of the company's stock, valued at approximately $23,120,374.04. This trade represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,108 shares of company stock worth $31,169,977. 0.77% of the stock is currently owned by company insiders.
About Chubb
(
Free Report)
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.
Further Reading
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