Nemes Rush Group LLC Purchases 1,089 Shares of Chubb Limited (NYSE:CB)

Key Points

• Nemes Rush Group LLC increased its stake in Chubb Limited by 1.9%, holding 59,008 shares valued at $17.82 million, making it the firm's 10th largest position.
• Chubb reported a quarterly EPS of $6.14, exceeding estimates, with revenues reaching $14.20 billion, a 6.3% increase year-over-year.
• The company initiated a $5 billion stock repurchase plan and increased its quarterly dividend from $0.91 to $0.97 per share, indicating management’s confidence in the stock’s valuation.

Nemes Rush Group LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,008 shares of the financial services provider's stock after acquiring an additional 1,089 shares during the quarter. Chubb accounts for 2.2% of Nemes Rush Group LLC's portfolio, making the stock its 10th largest position. Nemes Rush Group LLC's holdings in Chubb were worth $17,820,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peoples Bank KS bought a new stake in shares of Chubb in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the 1st quarter worth approximately $25,000. North Capital Inc. purchased a new position in shares of Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the 1st quarter worth approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after buying an additional 89 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday. Jefferies Financial Group lifted their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $303.14.

Chubb Stock Performance

Shares of CB stock traded down $3.28 during trading hours on Monday, hitting $265.87. The company's stock had a trading volume of 2,541,489 shares, compared to its average volume of 1,991,524. The company has a 50 day moving average of $283.97 and a 200 day moving average of $282.52. The stock has a market cap of $106.54 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.38 EPS. On average, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued 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 1.46%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio is 17.12%.

Chubb announced that its board has approved a stock buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction 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 sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction 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 owned 247,538 shares in the company, valued at approximately $72,526,158.62. This 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 ninety days. Insiders own 0.86% of the company's stock.

About Chubb

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.