Venture Visionary Partners LLC raised its position in Chubb Limited (NYSE:CB - Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,350 shares of the financial services provider's stock after acquiring an additional 4,542 shares during the quarter. Venture Visionary Partners LLC's holdings in Chubb were worth $10,978,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Bowen Hanes & Co. Inc. boosted its stake in shares of Chubb by 5.0% during the 1st quarter. Bowen Hanes & Co. Inc. now owns 8,425 shares of the financial services provider's stock valued at $2,544,000 after buying an additional 398 shares during the last quarter. Credit Agricole S A boosted its stake in shares of Chubb by 7.8% during the 1st quarter. Credit Agricole S A now owns 107,832 shares of the financial services provider's stock valued at $32,564,000 after buying an additional 7,831 shares during the last quarter. Groupama Asset Managment lifted its stake in Chubb by 12.3% during the first quarter. Groupama Asset Managment now owns 30,447 shares of the financial services provider's stock worth $9,026,000 after purchasing an additional 3,323 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in Chubb by 11.1% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 512,291 shares of the financial services provider's stock worth $154,707,000 after purchasing an additional 51,264 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in Chubb by 4.2% during the first quarter. Legacy Financial Advisors Inc. now owns 2,728 shares of the financial services provider's stock worth $824,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
Chubb Stock Performance
Shares of CB traded down $1.4450 during trading hours on Friday, reaching $277.3750. 1,401,699 shares of the company's stock traded hands, compared to its average volume of 1,895,244. The business's fifty day simple moving average is $276.76 and its two-hundred day simple moving average is $282.53. The firm has a market capitalization of $110.59 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 3.15 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.
Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb's revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.38 earnings per share. Analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb declared that its board has authorized a stock buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Chubb Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's payout ratio is presently 17.12%.
Insider Buying and Selling
In related news, COO John W. Keogh purchased 9,810 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the purchase, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 4.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Corbat purchased 425 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
CB has been the topic of several research analyst reports. HSBC cut Chubb from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. UBS Group reduced their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Keefe, Bruyette & Woods raised their price objective on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Piper Sandler restated a "neutral" rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $302.00.
Get Our Latest Analysis on CB
Chubb Profile
(
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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