CW Advisors LLC increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 212.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,867 shares of the financial services provider's stock after acquiring an additional 3,991 shares during the period. CW Advisors LLC's holdings in Chubb were worth $1,757,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. Peoples Bank KS acquired a new stake in Chubb during the first quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb during the first quarter worth about $25,000. North Capital Inc. acquired a new stake in Chubb during the first quarter worth about $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb during the first quarter worth about $31,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after acquiring an additional 43 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Michael Corbat bought 425 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh bought 9,810 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the transaction, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This represents a 4.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.77% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Wells Fargo & Company dropped their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Piper Sandler reissued a "neutral" rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. UBS Group dropped their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Finally, Morgan Stanley dropped their price objective on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Chubb presently has an average rating of "Hold" and an average target price of $302.00.
Check Out Our Latest Research Report on CB
Chubb Price Performance
Shares of NYSE CB traded up $0.96 during midday trading on Wednesday, hitting $272.96. The stock had a trading volume of 1,557,226 shares, compared to its average volume of 1,751,724. The company has a market capitalization of $108.83 billion, a PE ratio of 12.04, a P/E/G ratio of 3.07 and a beta of 0.53. The stock has a 50 day simple moving average of $276.11 and a 200-day simple moving average of $282.55. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.
Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.38 earnings per share. On average, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.
Chubb declared that its Board of Directors has approved a share 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 typically an indication that the company's board believes its stock is undervalued.
Chubb Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio (DPR) is 17.12%.
Chubb Company Profile
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Free Report)
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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