Northeast Financial Consultants Inc Has $2.63 Million Stake in Chubb Limited $CB

Key Points

• Northeast Financial Consultants Inc increased its stake in Chubb Limited by 962.2% in Q1, reaching a total value of $2.63 million and owning 8,721 shares as of their latest SEC filing.
• Chubb reported earnings of $6.14 per share for the last quarter, exceeding estimates, with a revenue of $14.20 billion, marking a 6.3% year-over-year increase.
• The company has authorized a $5.00 billion stock buyback program, indicating management's belief that its stock is undervalued.

Northeast Financial Consultants Inc boosted its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 962.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,721 shares of the financial services provider's stock after purchasing an additional 7,900 shares during the period. Northeast Financial Consultants Inc's holdings in Chubb were worth $2,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GQG Partners LLC increased its holdings in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC increased its stake in shares of Chubb by 16.4% in the 1st 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. Ameriprise Financial Inc. increased its stake in shares of Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock valued at $1,418,398,000 after buying an additional 304,751 shares during the period. Royal Bank of Canada increased its stake in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after buying an additional 1,403,545 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after buying an additional 366,559 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Up 0.1%

NYSE:CB opened at $277.63 on Tuesday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $110.69 billion, a P/E ratio of 12.25, a P/E/G ratio of 3.13 and a beta of 0.56. The stock's fifty day simple moving average is $274.73 and its 200-day simple moving average is $283.35.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company earned $5.38 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is currently 17.12%.

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 typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler reissued a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Wells Fargo & Company lowered their target price on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Cantor Fitzgerald raised Chubb to a "hold" rating in a research note on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods lifted their target price on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Chubb presently has an average rating of "Hold" and a consensus price target of $302.00.

Insider Activity

In other Chubb news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company's stock.

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.

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