Allspring Global Investments Holdings LLC trimmed its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,021 shares of the financial services provider's stock after selling 19,737 shares during the period. Allspring Global Investments Holdings LLC's holdings in Chubb were worth $18,995,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Peoples Bank KS purchased a new position in shares of Chubb in the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb in the 1st quarter worth $25,000. Crowley Wealth Management Inc. purchased a new position in shares of Chubb in the fourth quarter valued at about $29,000. Cherry Tree Wealth Management LLC increased its position in shares of Chubb by 56.6% in the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 43 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. 83.81% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on CB shares. Morgan Stanley raised their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods dropped their price objective on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Barclays reduced their target price 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, Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chubb has a consensus rating of "Moderate Buy" and an average target price of $307.53.
Check Out Our Latest Stock Report on Chubb
Insider Activity at Chubb
In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the business's 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 directly owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 over the last quarter. Company insiders own 0.77% of the company's stock.
Chubb Stock Up 0.7%
CB traded up $1.91 during trading on Friday, reaching $281.99. The stock had a trading volume of 1,523,457 shares, compared to its average volume of 1,637,475. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $113.00 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.16 and a beta of 0.53. The stock's 50 day moving average is $287.96 and its two-hundred day moving average is $282.02. Chubb Limited has a one year low of $251.42 and a one year high of $306.91.
Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. As a group, analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a dividend of $0.97 per share. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.38%. Chubb's dividend payout ratio (DPR) is currently 18.67%.
Chubb declared that its board has initiated a stock repurchase program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.
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.
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