BTS Asset Management Inc. Purchases New Holdings in Chubb Limited (NYSE:CB)

BTS Asset Management Inc. purchased a new stake in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,500 shares of the financial services provider's stock, valued at approximately $453,000. Chubb comprises 0.5% of BTS Asset Management Inc.'s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in CB. Brighton Jones LLC lifted its stake in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Chubb in the fourth quarter valued at about $205,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb in the fourth quarter valued at about $30,000. Empowered Funds LLC lifted its stake in shares of Chubb by 3.9% in the fourth quarter. Empowered Funds LLC now owns 12,501 shares of the financial services provider's stock valued at $3,454,000 after buying an additional 468 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its stake in Chubb by 19.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 12,878 shares of the financial services provider's stock worth $3,558,000 after purchasing an additional 2,073 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Down 0.9%

Shares of Chubb stock traded down $2.70 during trading on Friday, reaching $286.59. The stock had a trading volume of 964,830 shares, compared to its average volume of 1,616,868. The company has a market capitalization of $114.84 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 3.36 and a beta of 0.54. The stock has a fifty day moving average price of $287.72 and a two-hundred day moving average price of $281.72. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 18.67%.

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

Analyst Upgrades and Downgrades

CB has been the subject of a number of analyst reports. Raymond James restated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Piper Sandler raised their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. UBS Group raised their price objective 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, Jefferies Financial Group raised their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Insiders Place Their Bets

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company's stock, valued at approximately $8,644,927.28. This represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 12,231 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the transaction, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,856 shares of company stock valued at $35,537,155 over the last 90 days. 0.77% of the stock is currently owned by insiders.

About Chubb

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.