Peterson Wealth Services Grows Stake in Chubb Limited $CB

Key Points

• Peterson Wealth Services increased its Chubb stake by 481.6% in the fourth quarter, ending with 11,248 shares valued at about $3.5 million.
• Chubb continues to attract major institutional interest, with investors like Berkshire Hathaway and Norges Bank holding large positions; overall, institutions own 83.81% of the company.
• The company recently raised its quarterly dividend to $1.02 per share, while analysts maintain a Moderate Buy consensus with an average target price of about $349.43.

Peterson Wealth Services lifted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 481.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,248 shares of the financial services provider's stock after purchasing an additional 9,314 shares during the period. Peterson Wealth Services' holdings in Chubb were worth $3,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Berkshire Hathaway Inc boosted its position in Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. Norges Bank acquired a new position in Chubb during the fourth quarter worth about $1,081,190,000. AQR Capital Management LLC boosted its position in Chubb by 75.1% during the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock worth $785,468,000 after acquiring an additional 1,199,963 shares during the last quarter. Woodline Partners LP acquired a new position in Chubb during the third quarter worth about $220,217,000. Finally, Amundi boosted its position in Chubb by 55.4% during the third quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock worth $557,493,000 after acquiring an additional 693,740 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent research reports. HSBC boosted their price target on shares of Chubb from $362.00 to $370.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. BMO Capital Markets boosted their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Evercore boosted their price target on shares of Chubb from $347.00 to $349.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Citizens Jmp boosted their price target on shares of Chubb from $350.00 to $365.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler boosted their price target on shares of Chubb from $328.00 to $340.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $349.43.

Insider Activity

In other Chubb news, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. The trade was a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company's stock.

Chubb Stock Performance

NYSE:CB opened at $328.14 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $127.27 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.69 and a beta of 0.41. The company's 50-day moving average is $324.92 and its two-hundred day moving average is $318.88. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Analysts forecast that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is presently 13.70%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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