GAMMA Investing LLC Increases Stake in Chubb Limited (NYSE:CB)

GAMMA Investing LLC boosted its holdings in Chubb Limited (NYSE:CB - Free Report) by 36,831.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,084,033 shares of the financial services provider's stock after acquiring an additional 2,078,390 shares during the quarter. GAMMA Investing LLC owned 0.52% of Chubb worth $629,357,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CB. Demars Financial Group LLC lifted its position in shares of Chubb by 26,761.4% during the fourth 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 purchasing an additional 5,340,499 shares in the last quarter. Norges Bank purchased a new stake in Chubb in the 4th quarter valued at about $1,169,720,000. Raymond James Financial Inc. purchased a new stake in Chubb in the 4th quarter valued at about $1,158,897,000. Royal Bank of Canada lifted 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 in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Chubb in the 4th quarter worth approximately $336,972,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group increased their price target on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their price target on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Raymond James reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Finally, Jefferies Financial Group lifted their price target on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Insider Activity

In other news, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company's stock, valued at approximately $8,644,927.28. This trade represents a 33.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,553 shares of company stock worth $40,387,620. 0.77% of the stock is currently owned by insiders.

Chubb Price Performance

NYSE:CB traded down $1.79 during trading hours on Wednesday, hitting $294.62. The stock had a trading volume of 444,162 shares, compared to its average volume of 1,611,644. The company has a 50 day simple moving average of $288.10 and a two-hundred day simple moving average of $281.56. The firm has a market capitalization of $118.06 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a one year low of $251.42 and a one year 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, topping analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is 18.67%.

Chubb announced that its board has authorized a share buyback program on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.