MV Capital Management Inc. Buys New Shares in Chubb Limited $CB

Key Points

• MV Capital Management opened a new position in Chubb during the fourth quarter, buying 11,665 shares valued at about $3.64 million.
• Several other institutional investors also increased or adjusted their holdings, and hedge funds and other institutions now own 83.81% of Chubb’s shares. Meanwhile, COO John W. Keogh sold 23,000 shares in May.
• Analysts remain cautious overall: Chubb has a Hold consensus rating with a consensus target price of $349.10. The company also raised its quarterly dividend to $1.02 per share, up from $0.97.

MV Capital Management Inc. purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,665 shares of the financial services provider's stock, valued at approximately $3,641,000.

Other large investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after buying an additional 31 shares during the last quarter. Phillips Wealth Planners LLC grew its position in Chubb by 1.8% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock valued at $521,000 after acquiring an additional 31 shares during the period. Hoxton Planning & Management LLC increased its stake in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock worth $233,000 after acquiring an additional 31 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Chubb by 2.7% in the 4th quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock worth $405,000 after purchasing an additional 34 shares during the period. Finally, Wright Investors Service Inc. raised its holdings in shares of Chubb by 0.7% in the 4th quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock worth $1,538,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Wolfe Research increased their price objective on shares of Chubb from $372.00 to $373.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. HSBC raised their target price on shares of Chubb from $362.00 to $370.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Piper Sandler lifted their target price on shares of Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chubb presently has a consensus rating of "Hold" and a consensus target price of $349.10.

Chubb Stock Down 1.2%

NYSE CB opened at $323.88 on Friday. The stock has a market cap of $125.62 billion, a PE ratio of 11.44, a P/E/G ratio of 1.68 and a beta of 0.41. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The business has a 50 day moving average price of $324.87 and a two-hundred day moving average price of $319.94. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, sell-side analysts predict that Chubb Limited will post 26.8 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is 14.41%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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