HighTower Advisors LLC Raises Position in Chubb Limited (NYSE:CB)

Key Points

• HighTower Advisors LLC increased its stake in Chubb Limited by 1.8%, acquiring an additional 4,552 shares, bringing its total holdings to 260,442 shares valued at approximately $78.65 million.
• Chubb reported a quarterly earnings per share of $6.14, surpassing estimates and showing a year-over-year revenue increase of 6.3%, amounting to $14.20 billion for the quarter.
• The company announced a dividend increase from $0.91 to $0.97 per share, reflecting confidence in its performance, with a current yield of 1.4%.

HighTower Advisors LLC grew its position in shares of Chubb Limited (NYSE:CB - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,442 shares of the financial services provider's stock after buying an additional 4,552 shares during the period. HighTower Advisors LLC owned 0.06% of Chubb worth $78,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Peoples Bank KS bought a new position in Chubb in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the 1st quarter valued at about $25,000. North Capital Inc. bought a new position in shares of Chubb during the 1st quarter valued at about $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb during the 1st quarter valued at about $31,000. Finally, Cherry Tree Wealth Management LLC increased its position in shares of Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael Corbat acquired 425 shares of the company's stock in a transaction dated Friday, July 25th. The stock was purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company's stock, valued at approximately $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 valued at $29,163,135. Company insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CB. 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 report on Tuesday, May 20th. Morgan Stanley increased 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. UBS Group dropped their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a report on Wednesday. Finally, Citigroup began coverage on Chubb in a report on Wednesday. They issued a "buy" rating and a $326.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $302.31.

Chubb Stock Down 0.6%

CB stock traded down $1.58 on Friday, reaching $274.16. 1,504,402 shares of the company traded hands, compared to its average volume of 2,108,787. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $109.30 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The firm has a fifty day simple moving average of $277.86 and a 200-day simple moving average of $282.44.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The business 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%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.38 EPS. Research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors has approved a share repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's payout ratio is currently 17.12%.

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.