Summit Financial LLC increased its holdings in Chubb Limited (NYSE:CB - Free Report) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,364 shares of the financial services provider's stock after buying an additional 1,330 shares during the quarter. Summit Financial LLC's holdings in Chubb were worth $4,942,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in CB. Peoples Bank KS purchased a new position in shares of Chubb in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the first quarter worth approximately $25,000. North Capital Inc. purchased a new position in Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new position in Chubb during the first quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Insider Buying and Selling
In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on CB. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Citigroup began coverage on shares of Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target on the stock. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Chubb currently has an average rating of "Hold" and an average target price of $302.00.
Check Out Our Latest Stock Analysis on CB
Chubb Price Performance
CB stock opened at $278.7230 on Friday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company's fifty day moving average price is $276.95 and its 200-day moving average price is $282.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $111.12 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53.
Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the firm earned $5.38 earnings per share. The company's quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.
Chubb announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's payout ratio is currently 17.12%.
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.
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