Pittenger & Anderson Inc. Grows Stake in Chubb Limited (NYSE:CB)

Pittenger & Anderson Inc. boosted its holdings in Chubb Limited (NYSE:CB - Free Report) by 1.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 58,957 shares of the financial services provider's stock after buying an additional 935 shares during the period. Pittenger & Anderson Inc.'s holdings in Chubb were worth $17,804,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CB. Demars Financial Group LLC lifted its holdings in shares of Chubb by 26,761.4% in the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after acquiring an additional 5,340,499 shares during the last quarter. Norges Bank bought a new position in shares of Chubb in the 4th quarter valued at about $1,169,720,000. GAMMA Investing LLC lifted its holdings in shares of Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after acquiring an additional 2,078,390 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after acquiring an additional 1,403,545 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Chubb in the 4th quarter valued at about $336,972,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

CB has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Chubb from $278.00 to $285.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. 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. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Trading Up 0.7%

Shares of NYSE:CB traded up $1.95 during trading hours on Wednesday, hitting $277.63. 1,497,969 shares of the company's stock traded hands, compared to its average volume of 1,645,914. The business has a fifty day moving average price of $287.00 and a 200-day moving average price of $282.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm has a market capitalization of $111.25 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 18.67%.

Chubb declared that its Board of Directors has initiated a stock buyback 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 usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction that occurred 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 owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 in the last ninety days. Insiders own 0.77% of the company's stock.

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.