Chubb Limited (NYSE:CB) Stock Position Lifted by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in Chubb Limited by 5.8%, owning 67,137 shares valued at approximately $20.27 million after acquiring 3,665 shares in the first quarter.
• Chubb's recent earnings report showed a surge in EPS to $6.14, exceeding estimates and representing a year-over-year increase from $5.38.
• The company announced a quarterly dividend increase to $0.97 per share, reflecting a 1.44% yield and contributing to a stock repurchase plan of up to $5 billion.

Avantax Advisory Services Inc. raised its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,137 shares of the financial services provider's stock after purchasing an additional 3,665 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Chubb were worth $20,275,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Peoples Bank KS purchased a new stake in Chubb during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter worth approximately $25,000. North Capital Inc. purchased a new stake in Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb during the 1st quarter valued at approximately $31,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after buying an additional 43 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the firm'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 transaction, the chief operating officer 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock valued at $29,163,135 in the last quarter. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their target price on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. UBS Group upped their price objective on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Chubb currently has a consensus rating of "Moderate Buy" and an average target price of $302.64.

Chubb Stock Down 0.3%

CB traded down $0.90 on Friday, reaching $269.28. The company's stock had a trading volume of 2,979,052 shares, compared to its average volume of 2,031,676. The stock has a 50 day moving average of $284.54 and a two-hundred day moving average of $282.35. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $107.91 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 3.07 and a beta of 0.53. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

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

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

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.44%. Chubb's dividend payout ratio is presently 17.12%.

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.