Merit Financial Group LLC Increases Stake in Chubb Limited (NYSE:CB)

Merit Financial Group LLC grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 70.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,422 shares of the financial services provider's stock after purchasing an additional 6,355 shares during the quarter. Merit Financial Group LLC's holdings in Chubb were worth $4,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CB. Peoples Bank KS bought a new stake in Chubb during the first quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in shares of Chubb during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb during the 4th quarter valued at approximately $29,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in Chubb by 254.3% in 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 in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Up 0.8%

Shares of Chubb stock traded up $2.43 on Friday, reaching $293.95. The company had a trading volume of 1,339,772 shares, compared to its average volume of 1,616,765. The firm has a market cap of $117.79 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The firm's 50-day moving average price is $287.79 and its two-hundred day moving average price is $281.65. 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 posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.32%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is presently 18.67%.

Chubb announced that its board has authorized a stock buyback 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 buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CB shares. Barclays cut their price target on Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Raymond James restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. HSBC upgraded shares of Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods cut their price objective on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Chubb currently has a consensus rating of "Moderate Buy" and an average target price of $307.53.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 25,728 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares of the company's stock, valued at $170,321,922.75. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares of the company's stock, valued at approximately $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. Insiders sold a total of 138,553 shares of company stock valued at $40,387,620 over the last 90 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.