First Horizon Advisors Inc. Increases Stock Position in Chubb Limited (NYSE:CB)

First Horizon Advisors Inc. increased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,280 shares of the financial services provider's stock after buying an additional 1,375 shares during the period. First Horizon Advisors Inc.'s holdings in Chubb were worth $13,070,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Revisor Wealth Management LLC raised its holdings in Chubb by 72.7% during the 1st quarter. Revisor Wealth Management LLC now owns 1,687 shares of the financial services provider's stock worth $511,000 after purchasing an additional 710 shares during the last quarter. Private Trust Co. NA raised its holdings in Chubb by 2.3% during the 1st quarter. Private Trust Co. NA now owns 10,463 shares of the financial services provider's stock worth $3,160,000 after purchasing an additional 231 shares during the last quarter. Pinnacle Financial Partners Inc raised its holdings in Chubb by 22.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 22,822 shares of the financial services provider's stock worth $6,830,000 after purchasing an additional 4,212 shares during the last quarter. Fiduciary Group LLC raised its holdings in Chubb by 8.4% during the 1st quarter. Fiduciary Group LLC now owns 4,569 shares of the financial services provider's stock worth $1,380,000 after purchasing an additional 354 shares during the last quarter. Finally, Kanawha Capital Management LLC raised its holdings in Chubb by 2.0% during the 1st quarter. Kanawha Capital Management LLC now owns 59,813 shares of the financial services provider's stock worth $18,063,000 after purchasing an additional 1,184 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lifted their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Barclays lowered their price objective on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley upped their price objective 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. One analyst has 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $307.53.

Chubb Stock Up 0.7%

CB stock traded up $1.91 during trading on Friday, reaching $281.99. The stock had a trading volume of 1,523,457 shares, compared to its average volume of 1,639,089. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company's 50 day moving average is $287.96 and its two-hundred day moving average is $282.02. The company has a market capitalization of $113.00 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 3.16 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

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

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.38%. 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 authorized a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Chubb news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 9,794 shares of the 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 sale, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.77% of the company's stock.

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.