Envestnet Asset Management Inc. Has $359.98 Million Stock Position in Chubb Limited (NYSE:CB)

Envestnet Asset Management Inc. grew its stake in Chubb Limited (NYSE:CB - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,192,017 shares of the financial services provider's stock after purchasing an additional 41,978 shares during the period. Envestnet Asset Management Inc. owned approximately 0.30% of Chubb worth $359,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CB. Brighton Jones LLC boosted its holdings in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $205,000. Bank Pictet & Cie Europe AG acquired a new position in shares of Chubb in the 4th quarter worth approximately $1,320,000. Proficio Capital Partners LLC boosted its holdings in shares of Chubb by 50.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,942 shares of the financial services provider's stock worth $813,000 after acquiring an additional 988 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Chubb in the 4th quarter worth approximately $361,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Morgan Stanley upped their price objective on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $321.00 to $298.00 in a report on Monday. Wells Fargo & Company upped their price objective on Chubb from $278.00 to $285.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $307.13.

Chubb Trading Down 0.0%

Shares of CB traded down $0.05 during trading hours on Thursday, reaching $279.95. The stock had a trading volume of 839,110 shares, compared to its average volume of 1,742,573. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The firm has a 50-day moving average of $287.67 and a 200 day moving average of $282.17. The company has a market cap of $112.19 billion, a P/E ratio of 13.47, a P/E/G ratio of 3.11 and a beta of 0.53.

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

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was 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 declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction dated 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. This trade represents a 26.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,390 shares of company stock valued at $29,163,135. Corporate 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.