Kanawha Capital Management LLC Has $18.06 Million Stock Position in Chubb Limited (NYSE:CB)

Kanawha Capital Management LLC lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,813 shares of the financial services provider's stock after acquiring an additional 1,184 shares during the quarter. Chubb makes up approximately 1.4% of Kanawha Capital Management LLC's holdings, making the stock its 23rd largest holding. Kanawha Capital Management LLC's holdings in Chubb were worth $18,063,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Demars Financial Group LLC raised its position in 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 worth $1,481,094,000 after purchasing an additional 5,340,499 shares during the last quarter. Norges Bank bought a new position in Chubb in the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. bought a new position in Chubb in the 4th quarter worth approximately $1,158,897,000. GAMMA Investing LLC raised its position in Chubb by 36,831.3% in the 1st 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 last quarter. Finally, Royal Bank of Canada raised its position in Chubb by 46.7% in 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 purchasing an additional 1,403,545 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CB. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Piper Sandler upped their target price on shares of Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Wells Fargo & Company upped their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $307.53.

Chubb Stock Up 0.7%

NYSE CB traded up $1.91 on Friday, reaching $281.99. The company had a trading volume of 1,523,457 shares, compared to its average volume of 1,637,475. The firm has a market capitalization of $113.00 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The company's fifty day moving average is $287.96 and its 200-day moving average is $282.02.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.38%. Chubb's dividend payout ratio is presently 18.67%.

Chubb declared that its Board of Directors has authorized a stock buyback 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 237,728 shares of the company's stock, valued at $68,998,174.72. The trade was a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,390 shares of company stock valued at $29,163,135. Company insiders own 0.77% of the company's stock.

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.