State of Alaska Department of Revenue boosted its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,669 shares of the financial services provider's stock after acquiring an additional 905 shares during the quarter. State of Alaska Department of Revenue's holdings in Chubb were worth $13,187,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. CWA Asset Management Group LLC boosted its position in Chubb by 3.7% during the 1st quarter. CWA Asset Management Group LLC now owns 2,466 shares of the financial services provider's stock worth $745,000 after acquiring an additional 88 shares during the period. Accelerate Investment Advisors LLC purchased a new stake in shares of Chubb during the 1st quarter worth about $208,000. Cushing Capital Partners LLC raised its stake in shares of Chubb by 9.3% during the 1st quarter. Cushing Capital Partners LLC now owns 3,327 shares of the financial services provider's stock worth $1,008,000 after purchasing an additional 284 shares in the last quarter. GSB Wealth Management LLC raised its stake in shares of Chubb by 13.7% during the 1st quarter. GSB Wealth Management LLC now owns 3,976 shares of the financial services provider's stock worth $1,201,000 after purchasing an additional 478 shares in the last quarter. Finally, Five Oceans Advisors purchased a new stake in shares of Chubb during the 1st quarter worth about $206,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Chubb Stock Performance
Shares of NYSE CB opened at $283.87 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $287.94 and its two-hundred day moving average is $281.66. The company has a market cap of $113.76 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.19 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.
Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. The company 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 12.37% and a net margin of 15.05%. On average, equities analysts expect that Chubb Limited will post 21.52 EPS for the current year.
Chubb Increases Dividend
The firm 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 is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 13th. Chubb's payout ratio is currently 18.67%.
Chubb announced that its Board of Directors has approved a stock buyback plan 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CB. Jefferies Financial Group raised 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. Keefe, Bruyette & Woods cut their price target on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley raised their price objective on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $307.53.
Get Our Latest Stock Report on Chubb
Insiders Place Their Bets
In other news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer now owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,108 shares of company stock valued at $31,169,977 in the last three months. Company insiders own 0.86% of the company's stock.
About Chubb
(
Free Report)
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.
Further Reading
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