Concurrent Investment Advisors LLC cut its position in Chubb Limited (NYSE:CB - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,219 shares of the financial services provider's stock after selling 3,480 shares during the period. Concurrent Investment Advisors LLC's holdings in Chubb were worth $3,992,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake 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 last quarter. FMR LLC boosted its stake in Chubb by 0.6% during the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after purchasing an additional 91,892 shares during the last quarter. Capital World Investors boosted its stake in Chubb by 1.9% during the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after purchasing an additional 212,889 shares during the last quarter. Capital Research Global Investors boosted its stake in Chubb by 1.5% during the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock valued at $2,457,402,000 after purchasing an additional 131,075 shares during the last quarter. Finally, Demars Financial Group LLC boosted its stake in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, insider John J. Lupica sold 5,513 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer directly owned 237,728 shares of the company's stock, 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 ninety days, insiders have sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.86% of the company's stock.
Wall Street Analysts Forecast Growth
CB has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Morgan Stanley boosted their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Jefferies Financial Group boosted their target price on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. UBS Group boosted their target price on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Finally, Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $306.00.
Get Our Latest Stock Analysis on CB
Chubb Price Performance
Shares of CB traded down $3.96 during mid-day trading on Monday, reaching $279.84. 1,427,424 shares of the stock traded hands, compared to its average volume of 1,638,242. The firm has a fifty day moving average price of $287.96 and a 200 day moving average price of $282.16. The company has a market cap of $112.14 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91.
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 (EPS) for the quarter, topping 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 company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. As a group, equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb declared that its board has initiated a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.
Chubb Increases Dividend
The company also recently disclosed 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 1.39%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio is 18.67%.
Chubb Company Profile
(
Free Report)
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.
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