Parr Mcknight Wealth Management Group LLC Makes New $4.32 Million Investment in Chubb Limited (NYSE:CB)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,641 shares of the financial services provider's stock, valued at approximately $4,322,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC raised its stake in Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider's stock worth $511,226,000 after acquiring an additional 388,746 shares in the last quarter. California Public Employees Retirement System lifted its stake in Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock valued at $373,110,000 after buying an additional 14,610 shares during the period. Canopy Partners LLC lifted its stake in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after buying an additional 2,340 shares during the period. Vista Investment Partners II LLC acquired a new position in Chubb in the fourth quarter valued at approximately $2,442,000. Finally, Raymond James Financial Inc. acquired a new position in Chubb in the fourth quarter valued at approximately $1,158,897,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

Shares of NYSE CB traded up $3.61 during trading hours on Tuesday, reaching $289.71. 1,660,863 shares of the stock traded hands, compared to its average volume of 1,610,853. The company has a market capitalization of $116.09 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91. The company's 50-day simple moving average is $288.01 and its two-hundred day simple moving average is $281.12.

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

Chubb announced that its board has approved a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is 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 paid a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 13th. Chubb's payout ratio is 18.67%.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction that occurred on 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 $22,297,652.88. This represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,553 shares of company stock valued at $43,257,220 in the last ninety days. Company insiders own 0.86% of the company's stock.

Analyst Ratings Changes

CB has been the topic of a number of research reports. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Barclays reduced their price objective on Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Jefferies Financial Group increased their price target on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company raised their target price on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Chubb has an average rating of "Moderate Buy" and an average target price of $307.53.

Chubb 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.