AlphaCore Capital LLC Makes New $495,000 Investment in Chubb Limited (NYSE:CB)

Key Points

• AlphaCore Capital LLC acquired a new stake in Chubb Limited, purchasing 1,635 shares valued at approximately $495,000 during the first quarter.
• Chubb Limited announced a quarterly dividend increase to $0.97 per share, up from $0.91, with a current dividend yield of 1.4%.
• Despite positive quarterly earnings, several analysts downgraded their ratings and price targets, leading to a consensus rating of "Hold" with an average target price of $301.50.

AlphaCore Capital LLC bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,635 shares of the financial services provider's stock, valued at approximately $495,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Demars Financial Group LLC grew its position in shares of Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after purchasing an additional 5,340,499 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Chubb by 36,831.3% during the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after buying an additional 2,078,390 shares during the period. Royal Bank of Canada lifted its stake 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 valued at $1,217,392,000 after buying an additional 1,403,545 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in shares of Chubb during the fourth quarter valued at approximately $336,972,000. Finally, SG Americas Securities LLC lifted its stake in shares of Chubb by 1,243.9% during the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock valued at $205,491,000 after buying an additional 629,822 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CB has been the topic of several recent analyst reports. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Piper Sandler reissued a "neutral" rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Citigroup started coverage on shares of Chubb in a research note on Wednesday. They set a "buy" rating and a $326.00 price objective on the stock. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $302.31.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Corbat acquired 425 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 100,390 shares of company stock worth $29,163,135. 0.86% of the stock is currently owned by insiders.

Chubb Stock Up 1.6%

CB stock traded up $4.29 during mid-day trading on Wednesday, hitting $274.06. 107,279 shares of the company were exchanged, compared to its average volume of 1,785,836. The company has a market capitalization of $109.27 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. 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 Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a fifty day simple moving average of $278.90 and a 200 day simple moving average of $282.48.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the business earned $5.38 EPS. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is 17.12%.

Chubb announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.