Tidal Investments LLC grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 57.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,583 shares of the financial services provider's stock after buying an additional 34,051 shares during the quarter. Tidal Investments LLC's holdings in Chubb were worth $25,857,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rede Wealth LLC boosted its stake in shares of Chubb by 2.0% during the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider's stock valued at $525,000 after buying an additional 37 shares during the last quarter. United Asset Strategies Inc. increased its stake in Chubb by 1.3% during the fourth quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider's stock valued at $851,000 after purchasing an additional 40 shares during the last quarter. Avitas Wealth Management LLC increased its stake in Chubb by 0.5% during the fourth quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider's stock valued at $2,421,000 after purchasing an additional 40 shares during the last quarter. Tandem Wealth Advisors LLC increased its stake in Chubb by 3.0% during the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 40 shares during the last quarter. Finally, Unison Advisors LLC increased its stake in Chubb by 0.3% during the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock valued at $3,742,000 after purchasing an additional 41 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Chubb Price Performance
CB stock traded down $1.62 during trading on Wednesday, hitting $290.34. The company had a trading volume of 1,858,830 shares, compared to its average volume of 1,612,458. The firm has a market capitalization of $116.35 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 3.36 and a beta of 0.57. The business has a 50 day moving average of $288.69 and a 200 day moving average of $280.85. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.
Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.34%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 17.52%.
Chubb announced that its board has initiated a stock buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on CB shares. Piper Sandler boosted their target price on shares of Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. UBS Group boosted their target price on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Royal Bank of Canada reiterated an "outperform" rating and set a $320.00 target price on shares of Chubb in a research note on Thursday, January 30th. Raymond James reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $307.53.
View Our Latest Stock Report on Chubb
Insider Buying and Selling
In other Chubb news, CEO Evan G. Greenberg sold 25,728 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 584,395 shares in the company, valued at approximately $170,321,922.75. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the sale, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock valued at $18,562,730 over the last 90 days. 0.77% of the stock is currently owned by company insiders.
Chubb Company Profile
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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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