NorthCrest Asset Manangement LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,429 shares of the financial services provider's stock after purchasing an additional 2,236 shares during the quarter. Chubb comprises 1.0% of NorthCrest Asset Manangement LLC's holdings, making the stock its 21st largest position. NorthCrest Asset Manangement LLC's holdings in Chubb were worth $33,952,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 worth $10,072,097,000 after acquiring an additional 271,648 shares during the period. FMR LLC grew its holdings in Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock worth $4,329,173,000 after acquiring an additional 91,892 shares during the period. Capital World Investors grew its holdings 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 worth $3,172,194,000 after acquiring an additional 212,889 shares during the period. Capital Research Global Investors grew its holdings 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 worth $2,457,402,000 after acquiring an additional 131,075 shares during the period. Finally, Demars Financial Group LLC grew its holdings in Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Chubb
In related news, COO John W. Keogh sold 85,083 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer now owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,856 shares of company stock worth $35,537,155 in the last 90 days. Insiders own 0.77% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on CB. Morgan Stanley increased their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. boosted their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Piper Sandler boosted their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Finally, UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Chubb currently has a consensus rating of "Moderate Buy" and an average target price of $307.53.
Read Our Latest Stock Report on CB
Chubb Price Performance
Shares of NYSE:CB traded down $2.70 during trading on Friday, reaching $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 quick ratio of 0.28 and a current ratio of 0.25. The business has a fifty day moving average price of $287.47 and a 200-day moving average price of $281.79. The stock has a market cap of $114.84 billion, a PE 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.
Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The firm 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%. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.
Chubb declared that its Board of Directors has initiated a stock repurchase 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 often a sign that the company's board believes its stock is undervalued.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%. Chubb's payout ratio is 18.67%.
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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