Olstein Capital Management L.P. Makes New $2.72 Million Investment in Chubb Limited (NYSE:CB)

Olstein Capital Management L.P. purchased a new stake in Chubb Limited (NYSE:CB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,000 shares of the financial services provider's stock, valued at approximately $2,718,000.

A number of other hedge funds have also recently added to or reduced their stakes in CB. Bruce G. Allen Investments LLC grew its holdings in Chubb by 18.8% during the first quarter. Bruce G. Allen Investments LLC now owns 847 shares of the financial services provider's stock valued at $256,000 after purchasing an additional 134 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in Chubb by 55.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,855 shares of the financial services provider's stock worth $1,466,000 after acquiring an additional 1,736 shares during the period. Farther Finance Advisors LLC lifted its position in Chubb by 6.3% during the 1st quarter. Farther Finance Advisors LLC now owns 4,005 shares of the financial services provider's stock worth $1,207,000 after acquiring an additional 239 shares during the last quarter. City Holding Co. lifted its position in Chubb by 98.0% during the 1st quarter. City Holding Co. now owns 196 shares of the financial services provider's stock worth $59,000 after acquiring an additional 97 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Chubb by 18.9% during the first quarter. Portside Wealth Group LLC now owns 1,146 shares of the financial services provider's stock valued at $346,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

NYSE:CB traded up $3.49 during trading hours on Thursday, reaching $289.10. The company had a trading volume of 1,253,131 shares, compared to its average volume of 1,615,987. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $287.17 and a two-hundred day moving average of $281.77. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The firm has a market capitalization of $115.85 billion, a PE ratio of 12.72, a PEG ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

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

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. 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. This represents a $3.88 dividend on an annualized basis and a yield of 1.34%. Chubb's dividend payout ratio is 18.67%.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $3,605,943.42. Following the completion of the sale, the executive vice president now directly owns 78,422 shares of the company's stock, valued at approximately $23,120,374.04. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,619 shares of company stock valued at $35,758,738 in the last three months. Corporate insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CB. Morgan Stanley lifted their price objective on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Barclays reduced their price objective on Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Raymond James restated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, Piper Sandler raised their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $307.53.

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.