HB Wealth Management LLC Grows Position in Chubb Limited (NYSE:CB)

Key Points

• HB Wealth Management LLC increased its stake in Chubb Limited by 11.9%, now owning 36,648 shares valued at over $11 million as of their latest SEC filing.
• Chubb's quarterly earnings exceeded analysts' expectations, reporting $6.14 EPS and $14.20 billion in revenue, compared to estimates of $5.84 EPS and $12.53 billion in revenue.
• The company recently raised its quarterly dividend to $0.97 per share, marking an increase from the previous dividend and reflecting a 1.44% yield.

HB Wealth Management LLC grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,648 shares of the financial services provider's stock after buying an additional 3,899 shares during the quarter. HB Wealth Management LLC's holdings in Chubb were worth $11,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Sunflower Bank N.A. lifted its holdings in Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 38 shares during the last quarter. Avantax Planning Partners Inc. grew its holdings in Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after buying an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC grew its holdings in Chubb by 3.0% during the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock valued at $382,000 after buying an additional 40 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Chubb by 0.5% in the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock worth $2,524,000 after buying an additional 40 shares in the last quarter. Finally, Unison Advisors LLC lifted its holdings in shares of Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock worth $3,742,000 after buying an additional 41 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday. Jefferies Financial Group upped their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. UBS Group reduced their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Morgan Stanley lifted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Chubb currently has an average rating of "Moderate Buy" and a consensus target price of $303.14.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 85,083 shares of the business'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 of the company's stock, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.77% of the stock is owned by insiders.

Chubb Stock Down 1.2%

Shares of CB traded down $3.28 during trading hours on Monday, hitting $265.87. The company had a trading volume of 2,541,489 shares, compared to its average volume of 1,798,728. The firm has a fifty day moving average price of $284.54 and a 200-day moving average price of $282.46. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.34. The stock has a market capitalization of $106.54 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 3.07 and a beta of 0.53. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. Chubb's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.38 EPS. On average, equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.46%. Chubb's payout ratio is 17.12%.

Chubb announced that its board has initiated a stock 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 purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

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.