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

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Demars Financial Group LLC increased its stake in shares of Chubb by 26,761.4% in the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after buying an additional 5,340,499 shares during the period. Norges Bank acquired a new stake in Chubb in the fourth quarter worth about $1,169,720,000. GAMMA Investing LLC increased its position in Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock worth $629,357,000 after purchasing an additional 2,078,390 shares during the period. Royal Bank of Canada grew its position in shares of Chubb by 46.7% during the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after buying an additional 1,403,545 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Chubb during the 4th quarter worth approximately $336,972,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CB. Wells Fargo & Company upped their target price on shares of Chubb from $278.00 to $285.00 and gave the company an "equal weight" rating in a research report on Thursday. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $307.13.

Chubb Stock Down 1.0%

Shares of NYSE:CB traded down $2.88 during midday trading on Friday, reaching $277.66. 1,249,414 shares of the company were exchanged, compared to its average volume of 1,644,801. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week 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 0.21. The stock has a fifty day simple moving average of $287.42 and a two-hundred day simple moving average of $282.21. The firm has a market cap of $111.27 billion, a PE ratio of 13.36, a P/E/G ratio of 3.12 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. The firm had revenue of $12.65 billion for 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%. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.40%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is 18.67%.

Chubb announced that its board has approved a stock repurchase 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider John J. Lupica sold 5,513 shares of the 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 directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer directly owned 237,728 shares of the company's stock, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.77% of the company's stock.

About Chubb

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.