Dover Advisors LLC Takes $298,000 Position in Chubb Limited (NYSE:CB)

Dover Advisors LLC bought a new position in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 984 shares of the financial services provider's stock, valued at approximately $298,000.

Other large investors have also recently added to or reduced their stakes in the company. Peoples Bank KS acquired a new position in shares of Chubb during the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the first quarter valued at $25,000. Sierra Ocean LLC acquired a new position in shares of Chubb during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Chubb in the fourth quarter worth about $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

CB stock traded down $2.70 during trading on Friday, hitting $286.59. The company had a trading volume of 964,830 shares, compared to its average volume of 1,616,868. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $114.84 billion, a P/E ratio of 12.61, a P/E/G ratio of 3.36 and a beta of 0.54. The company has a fifty day moving average price of $287.72 and a two-hundred day moving average price of $281.72. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its board has initiated 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 repurchase 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 stock is undervalued.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 18.67%.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares of the company's stock, valued at $23,120,374.04. This trade represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,856 shares of company stock valued at $35,537,155. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CB. Raymond James reiterated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Piper Sandler boosted 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. Jefferies Financial Group increased their price target on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Barclays dropped their price target on Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley raised their price objective on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Two equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $307.53.

Chubb Company 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.