Beacon Investment Advisory Services Inc. grew its holdings in Chubb Limited (NYSE:CB - Free Report) by 64.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,273 shares of the financial services provider's stock after purchasing an additional 1,674 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Chubb were worth $1,290,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the business. Peoples Bank KS bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter valued at $25,000. North Capital Inc. bought a new stake in Chubb in the 1st quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in Chubb in the 4th quarter worth $29,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.
Analysts Set New Price Targets
CB has been the subject of several research reports. Wells Fargo & Company reduced their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday. Jefferies Financial Group raised 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. Keefe, Bruyette & Woods boosted their price objective on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. UBS Group raised their target price on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $302.47.
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Insider Activity
In other news, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares in the company, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The transaction 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 that occurred on 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 completion of the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.77% of the company's stock.
Chubb Stock Performance
NYSE CB traded up $0.35 on Thursday, reaching $270.50. The stock had a trading volume of 2,120,924 shares, compared to its average volume of 2,013,099. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.28. The firm has a fifty day moving average of $285.47 and a two-hundred day moving average of $282.21. The company has a market cap of $108.40 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53.
Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm posted $5.38 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.
Chubb Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.43%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio is presently 18.67%.
Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is 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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