Concord Asset Management LLC VA Has $2.23 Million Stock Holdings in Chubb Limited (NYSE:CB)

Concord Asset Management LLC VA decreased its stake in Chubb Limited (NYSE:CB - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,821 shares of the financial services provider's stock after selling 1,083 shares during the period. Concord Asset Management LLC VA's holdings in Chubb were worth $2,225,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Peoples Bank KS bought a new stake in shares of Chubb in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new stake in Chubb during the 4th quarter valued at $29,000. Finally, Cherry Tree Wealth Management LLC raised its stake in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CB. Morgan Stanley lifted their target price on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. UBS Group lifted their target price on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company lifted their target price on Chubb from $278.00 to $285.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Chubb currently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Price Performance

Shares of CB stock traded down $1.69 during mid-day trading on Friday, hitting $273.78. 1,772,861 shares of the stock traded hands, compared to its average volume of 1,650,383. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a market cap of $109.71 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The company's 50-day simple moving average is $286.47 and its 200-day simple moving average is $282.21. 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 issued its 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 business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

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

Chubb declared that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer owned 237,728 shares in the company, valued at $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. Insiders sold a total of 100,390 shares of company stock worth $29,163,135 over the last 90 days. Insiders own 0.77% of the company's stock.

Chubb Company 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.