Portside Wealth Group LLC Takes Position in Chubb Limited (NYSE:CB)

Portside Wealth Group LLC bought a new position in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 964 shares of the financial services provider's stock, valued at approximately $266,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Chubb by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock worth $10,072,097,000 after purchasing an additional 271,648 shares during the period. FMR LLC lifted its position in Chubb by 0.6% in the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock worth $4,329,173,000 after buying an additional 91,892 shares during the last quarter. Capital World Investors boosted its stake 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 buying an additional 212,889 shares during the period. Capital Research Global Investors increased its position 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 valued at $2,457,402,000 after acquiring an additional 131,075 shares during the last quarter. Finally, Demars Financial Group LLC increased its position 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 valued at $1,481,094,000 after acquiring an additional 5,340,499 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group lifted their price target on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Jefferies Financial Group raised their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Raymond James reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of "Moderate Buy" and a consensus price target of $307.53.

Insider Activity

In other news, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer now owns 237,728 shares in the company, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares of the company's stock, valued at approximately $170,321,922.75. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,553 shares of company stock valued at $40,387,620 in the last ninety days. Insiders own 0.77% of the company's stock.

Chubb Stock Performance

Shares of Chubb stock opened at $291.07 on Friday. The company has a 50-day simple moving average of $287.79 and a two-hundred day simple moving average of $281.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company has a market capitalization of $116.64 billion, a PE ratio of 12.81, a P/E/G ratio of 3.36 and a beta of 0.57.

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 business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently disclosed 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. This represents a $3.88 annualized dividend and a yield of 1.33%. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb's payout ratio is presently 18.67%.

Chubb declared that its board has authorized a share repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

About Chubb

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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