Pallas Capital Advisors LLC Increases Stake in Chubb Limited (NYSE:CB)

Pallas Capital Advisors LLC boosted its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 55.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,855 shares of the financial services provider's stock after buying an additional 1,736 shares during the quarter. Pallas Capital Advisors LLC's holdings in Chubb were worth $1,466,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Peoples Bank KS bought a new position in Chubb during the first quarter worth about $25,000. Sierra Ocean LLC acquired a new stake in shares of Chubb during the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new stake in Chubb during the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

CB traded up $3.49 during midday trading on Thursday, reaching $289.10. The company had a trading volume of 1,253,131 shares, compared to its average volume of 1,618,053. 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 cap of $115.85 billion, a PE ratio of 12.72, a P/E/G ratio of 3.36 and a beta of 0.54. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The business has a 50-day moving average price of $287.47 and a two-hundred day moving average price of $281.79.

Chubb (NYSE:CB - Get Free Report) last posted 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.34%. Chubb's dividend payout ratio is presently 18.67%.

Insider Activity

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company's stock, valued at $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now directly owns 20,044 shares of the company's stock, valued at $5,820,978.04. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,619 shares of company stock valued at $35,758,738. Corporate insiders own 0.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley increased their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. HSBC raised shares of Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler raised their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $307.53.

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.