Bridgewater Advisors Inc. Takes Position in Chubb Limited (NYSE:CB)

Bridgewater Advisors Inc. acquired a new stake in Chubb Limited (NYSE:CB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,489 shares of the financial services provider's stock, valued at approximately $424,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Chubb by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock valued at $10,072,097,000 after acquiring an additional 271,648 shares during the last quarter. FMR LLC raised its holdings in Chubb by 0.6% in the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after acquiring an additional 91,892 shares during the last quarter. Capital World Investors increased its holdings in shares of Chubb by 1.9% during the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock worth $3,172,194,000 after buying an additional 212,889 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Chubb by 1.5% during the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock worth $2,457,402,000 after buying an additional 131,075 shares during the last quarter. Finally, Demars Financial Group LLC increased its holdings in shares of Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after buying an additional 878,177 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Piper Sandler raised their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Jefferies Financial Group raised their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. UBS Group raised their price target on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Stock Down 0.6%

NYSE:CB traded down $1.72 during midday trading on Friday, hitting $273.74. 2,977,849 shares of the company were exchanged, compared to its average volume of 1,751,404. The company has a fifty day simple moving average of $286.47 and a 200 day simple moving average of $282.21. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. 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 $109.69 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. As a group, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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 paid a $0.97 dividend. The ex-dividend date was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.42%. Chubb's payout ratio is currently 18.67%.

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 buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on 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 transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer owned 237,728 shares in the company, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by company insiders.

Chubb Company 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.