Chubb Limited (NYSE:CB) Shares Sold by Obermeyer Wealth Partners

Obermeyer Wealth Partners trimmed its position in Chubb Limited (NYSE:CB - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,833 shares of the financial services provider's stock after selling 3,501 shares during the period. Chubb accounts for approximately 1.4% of Obermeyer Wealth Partners' investment portfolio, making the stock its 29th biggest holding. Obermeyer Wealth Partners' holdings in Chubb were worth $25,317,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CB. California Public Employees Retirement System boosted its stake in shares of Chubb by 1.1% during the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock worth $373,110,000 after acquiring an additional 14,610 shares in the last quarter. Canopy Partners LLC lifted its stake in Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after buying an additional 2,340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after buying an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after buying an additional 1,375 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Chubb by 9.1% in the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock valued at $166,000 after buying an additional 46 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CB has been the subject of a number of recent analyst reports. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. UBS Group lifted their target price on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Piper Sandler lifted their target price on shares of Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Chubb presently has an average rating of "Moderate Buy" and an average price target of $307.13.

Chubb Price Performance

CB opened at $274.06 on Tuesday. The company has a 50-day moving average of $286.14 and a 200-day moving average of $282.31. The company has a market capitalization of $109.82 billion, a P/E ratio of 13.19, a PEG ratio of 3.05 and a beta of 0.53. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.42%. Chubb's payout ratio is 18.67%.

Chubb declared that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction 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 completion of the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. 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 85,083 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer directly owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.86% 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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.