McElhenny Sheffield Capital Management LLC Invests $566,000 in Chubb Limited (NYSE:CB)

McElhenny Sheffield Capital Management LLC bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,875 shares of the financial services provider's stock, valued at approximately $566,000.

A number of other hedge funds have also modified their holdings of CB. Peoples Bank KS purchased a new position in shares of Chubb during the first quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Chubb during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb during the fourth quarter worth $29,000. Strategic Financial Concepts LLC acquired a new stake in shares of Chubb during the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after purchasing an additional 89 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Joseph F. Wayland sold 12,231 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. This represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer now owns 247,538 shares in the company, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,856 shares of company stock worth $35,537,155 over the last three months. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CB shares. Morgan Stanley increased their price target on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company upped their price objective on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a report on Tuesday, May 20th. Finally, Piper Sandler upped their price objective on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Two equities research analysts have 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $307.53.

Chubb Price Performance

Chubb stock traded down $2.70 during trading hours on Friday, hitting $286.59. The stock had a trading volume of 964,830 shares, compared to its average volume of 1,615,759. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The stock has a market capitalization of $114.84 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 3.36 and a beta of 0.54. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The stock's fifty day moving average is $287.72 and its two-hundred day moving average is $281.78.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has authorized a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.97 dividend. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, June 13th. Chubb's dividend payout ratio is currently 18.67%.

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.