Confluence Wealth Services Inc. Increases Holdings in Chubb Limited (NYSE:CB)

Confluence Wealth Services Inc. grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,747 shares of the financial services provider's stock after purchasing an additional 3,594 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Chubb were worth $3,911,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. California Public Employees Retirement System grew 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 during the period. Canopy Partners LLC grew its stake in shares of Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock worth $1,331,000 after acquiring an additional 2,340 shares during the period. Vista Investment Partners II LLC bought a new position in shares of Chubb during the 4th quarter worth $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Chubb by 15.4% during 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 worth $760,853,000 after acquiring an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Chubb during the 4th quarter worth $1,158,897,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. 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. Morgan Stanley increased their price target 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 increased their price target on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 target price for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $307.53.

Chubb Price Performance

Shares of CB traded up $1.55 during trading hours on Friday, reaching $285.12. 3,782,107 shares of the company's stock traded hands, compared to its average volume of 1,624,388. The stock has a market cap of $114.26 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm's 50 day simple moving average is $287.84 and its 200-day simple moving average is $281.76. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is 18.67%.

Chubb declared that its Board of Directors has authorized a share buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, COO John W. Keogh acquired 9,810 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $292.99 per share, with a total value of $2,874,231.90. Following the acquisition, the chief operating officer now owns 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 4.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% 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.