Novem Group Takes Position in Chubb Limited (NYSE:CB)

Novem Group bought a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 887 shares of the financial services provider's stock, valued at approximately $245,000.

A number of other institutional investors have also recently modified their holdings of CB. Sierra Ocean LLC acquired a new position in shares of Chubb during the 4th quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Chubb during the 4th quarter worth $29,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Chubb by 254.3% during 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 in the last quarter. Human Investing LLC acquired a new position in shares of Chubb during the 4th quarter worth $36,000. Finally, Mainstream Capital Management LLC acquired a new position in shares of Chubb during the 4th quarter worth $37,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 25,728 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the sale, the chief executive officer now owns 584,395 shares in the company, valued at $170,321,922.75. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,553 shares of company stock worth $43,257,220 in the last 90 days. Corporate insiders own 0.77% of the company's stock.

Chubb Trading Down 1.1%

NYSE CB opened at $287.10 on Friday. The business's 50-day moving average price is $288.39 and its two-hundred day moving average price is $280.99. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The firm has a market capitalization of $115.05 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. On average, analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on CB shares. Raymond James reissued a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Jefferies Financial Group upped their target price on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, Morgan Stanley upped their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday. Two equities research 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 data from MarketBeat, Chubb currently has a consensus rating of "Moderate Buy" and a consensus target price of $307.53.

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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