Connective Portfolio Management LLC Makes New $790,000 Investment in Chubb Limited (NYSE:CB)

Connective Portfolio Management LLC purchased a new position in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,615 shares of the financial services provider's stock, valued at approximately $790,000. Chubb comprises 2.7% of Connective Portfolio Management LLC's investment portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Chubb in the fourth quarter valued at about $205,000. Bank Pictet & Cie Europe AG acquired a new position in Chubb in the fourth quarter valued at about $1,320,000. Strategic Financial Concepts LLC acquired a new position in Chubb in the fourth quarter valued at about $30,000. Finally, Atria Wealth Solutions Inc. boosted its position in Chubb by 19.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 16,143 shares of the financial services provider's stock valued at $4,471,000 after buying an additional 2,655 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Chubb news, COO John W. Keogh bought 9,810 shares of Chubb stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the acquisition, the chief operating officer now owns 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 4.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays dropped their target price on shares of 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 Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. HSBC raised shares of 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. Wells Fargo & Company boosted their target price on shares of Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Finally, Hsbc Global Res raised shares of Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $307.53.

Chubb Stock Up 0.5%

Shares of NYSE CB opened at $283.61 on Friday. The stock has a market cap of $113.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.14 and a beta of 0.54. The firm has a 50 day moving average price of $287.89 and a 200 day moving average price of $281.59. 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 Limited has a 52-week low of $251.42 and a 52-week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. Analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is 18.67%.

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.

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