Challenger Wealth Management Acquires New Stake in Chubb Limited (NYSE:CB)

Challenger Wealth Management acquired a new position in Chubb Limited (NYSE:CB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,952 shares of the financial services provider's stock, valued at approximately $539,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Chubb by 0.8% during 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 purchasing an additional 271,648 shares during the period. FMR LLC increased its stake in shares of Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after buying an additional 91,892 shares during the period. Capital World Investors raised its holdings in shares of Chubb by 1.9% during the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after acquiring an additional 212,889 shares in the last quarter. Capital Research Global Investors lifted its stake in Chubb by 1.5% in the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock worth $2,457,402,000 after acquiring an additional 131,075 shares during the period. Finally, Demars Financial Group LLC lifted its stake in Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several research reports. Royal Bank of Canada restated an "outperform" rating and issued a $320.00 price objective on shares of Chubb in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Finally, Morgan Stanley increased their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Stock Up 1.7%

Shares of Chubb stock traded up $4.94 during midday trading on Thursday, hitting $293.94. The company had a trading volume of 1,749,013 shares, compared to its average volume of 1,612,190. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a market capitalization of $117.79 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.36 and a beta of 0.57. The company has a 50 day moving average of $287.88 and a 200 day moving average of $281.23.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 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 the consensus estimate of $11.22 billion. On average, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.32%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. Chubb's payout ratio is 18.67%.

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

Insiders Place Their Bets

In other news, EVP Joseph F. Wayland sold 10,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares of the company's stock, valued at $22,297,652.88. This represents a 11.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer now directly owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,553 shares of company stock valued at $43,257,220. 0.86% of the stock is currently owned by corporate 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.