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

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

Other large investors have also modified their holdings of the company. Peoples Bank KS acquired a new position in shares of Chubb during the first quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb in the 1st quarter worth $25,000. North Capital Inc. purchased a new position in Chubb in the 1st quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb during the fourth quarter valued at about $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research report on Tuesday, May 20th. Morgan Stanley boosted their price target on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. UBS Group upped their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Raymond James Financial reiterated 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 issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $306.67.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,390 shares of company stock worth $29,163,135. Corporate insiders own 0.77% of the company's stock.

Chubb Stock Performance

Shares of NYSE CB traded down $0.63 during trading hours on Wednesday, reaching $279.32. The stock had a trading volume of 2,052,805 shares, compared to its average volume of 1,643,335. The company has a market cap of $111.93 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 3.11 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The business's fifty day moving average is $287.80 and its two-hundred day moving average is $282.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

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, topping analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. As a group, research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The business also recently disclosed 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%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's payout ratio is presently 18.67%.

Chubb declared that its board has initiated a stock buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.