Kingsview Wealth Management LLC cut its stake in Chubb Limited (NYSE:CB - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,130 shares of the financial services provider's stock after selling 1,011 shares during the period. Kingsview Wealth Management LLC's holdings in Chubb were worth $1,549,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Chubb by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock valued at $10,072,097,000 after buying an additional 271,648 shares during the period. FMR LLC boosted its position in Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after buying an additional 91,892 shares during the period. Capital World Investors boosted its position in Chubb by 1.9% during the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after buying an additional 212,889 shares during the period. Capital Research Global Investors boosted its position in Chubb by 1.5% during the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock valued at $2,457,402,000 after buying an additional 131,075 shares during the period. Finally, Demars Financial Group LLC boosted its position in Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after buying an additional 878,177 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Morgan Stanley upped their price target 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. Deutsche Bank Aktiengesellschaft lowered shares of 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. Keefe, Bruyette & Woods raised their target price on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $321.00 to $298.00 in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $307.13.
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Chubb Stock Down 0.6%
Shares of NYSE:CB traded down $1.72 during trading on Friday, hitting $273.74. The stock had a trading volume of 2,977,889 shares, compared to its average volume of 1,648,343. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a market capitalization of $109.70 billion, a PE ratio of 13.17, a PEG ratio of 3.05 and a beta of 0.53. The firm's fifty day moving average is $286.14 and its 200 day moving average is $282.24. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.
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, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.
Chubb Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 annualized dividend and a dividend yield of 1.42%. 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 of Directors has authorized a stock buyback 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
Insider Activity at Chubb
In related news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. 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 9,794 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 in the last three months. 0.77% of the stock is owned by insiders.
About Chubb
(
Free Report)
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.
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