Baird Financial Group Inc. Acquires 909 Shares of Chubb Limited $CB

Key Points

• Baird Financial Group Inc. increased its holdings in Chubb Limited by 0.4%, owning 203,631 shares valued at approximately $61.5 million.
• Chubb Limited has recently announced a quarterly dividend of $0.97, resulting in an annualized yield of 1.4%, with the payout ratio currently at 17.12%.
• Several analysts have downgraded their price objectives for Chubb, with a consensus price target now at $302.00 and the majority rating the stock as "Hold."

Baird Financial Group Inc. lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,631 shares of the financial services provider's stock after purchasing an additional 909 shares during the period. Baird Financial Group Inc. owned 0.05% of Chubb worth $61,495,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Chubb by 0.5% during the first quarter. The Manufacturers Life Insurance Company now owns 593,302 shares of the financial services provider's stock worth $179,171,000 after buying an additional 2,735 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in Chubb by 42.3% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 1,276 shares of the financial services provider's stock valued at $385,000 after purchasing an additional 379 shares during the last quarter. WPG Advisers LLC bought a new stake in Chubb in the 1st quarter valued at $33,000. Wealth Preservation Advisors LLC acquired a new stake in Chubb in the 1st quarter worth $103,000. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of Chubb by 28.0% during the 1st quarter. Transamerica Financial Advisors LLC now owns 1,441 shares of the financial services provider's stock worth $435,000 after purchasing an additional 315 shares during the period. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CB. Evercore ISI set a $312.00 target price on shares of Chubb in a research note on Wednesday, July 23rd. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Morgan Stanley cut their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $302.00.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 425 shares of the stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company's stock.

Chubb Price Performance

Shares of NYSE:CB traded up $1.95 during trading on Thursday, reaching $280.17. The stock had a trading volume of 947,862 shares, compared to its average volume of 1,780,208. The stock has a market capitalization of $111.70 billion, a PE ratio of 12.36, a P/E/G ratio of 3.10 and a beta of 0.56. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The business's 50-day moving average price is $275.21 and its 200 day moving average price is $282.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

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

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's dividend payout ratio is 17.12%.

Chubb declared that its Board of Directors has approved a share 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

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.