Ascentis Independent Advisors Acquires 3,202 Shares of Chubb Limited $CB

Key Points

• Ascentis Independent Advisors increased its Chubb stake by 141.8% in the first quarter, buying 3,202 additional shares and bringing its total holdings to 5,460 shares worth about $1.78 million.
• Institutional ownership of Chubb remains very high, with several large investors also boosting positions; overall, hedge funds and institutions now own 83.81% of the company.
• Chubb recently raised its quarterly dividend to $1.02 per share from $0.97, while analysts currently hold a consensus “Hold” rating with an average target price of $349.90.

Ascentis Independent Advisors lifted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 141.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,460 shares of the financial services provider's stock after buying an additional 3,202 shares during the quarter. Ascentis Independent Advisors' holdings in Chubb were worth $1,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc increased its stake in Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. State Street Corp increased its position in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock valued at $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. GQG Partners LLC raised its stake in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock worth $3,895,627,000 after buying an additional 1,647,729 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider's stock worth $1,426,475,000 after acquiring an additional 427,512 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CB. Bank of America decreased their price objective on Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Wells Fargo & Company lifted their price target on shares of Chubb from $321.00 to $333.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and upped their price objective for the stock from $370.00 to $373.00 in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research note on Monday, March 23rd. Finally, Mizuho decreased their target price on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $349.90.

Chubb Trading Down 1.4%

Shares of CB stock opened at $356.27 on Tuesday. The company has a 50 day moving average of $327.40 and a 200-day moving average of $323.13. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $361.33. The firm has a market cap of $138.18 billion, a P/E ratio of 12.58, a PEG ratio of 1.85 and a beta of 0.40.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion for the quarter. Sell-side analysts anticipate that Chubb Limited will post 26.77 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's payout ratio is currently 14.41%.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company's stock.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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