Wakefield Asset Management LLLP Acquires Shares of 1,846 Chubb Limited (NYSE:CB)

Wakefield Asset Management LLLP acquired a new stake in Chubb Limited (NYSE:CB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,846 shares of the financial services provider's stock, valued at approximately $557,000.

A number of other hedge funds also recently made changes to their positions in CB. Peoples Bank KS bought a new position in Chubb during the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Chubb during the 1st quarter worth $25,000. North Capital Inc. bought a new position in Chubb during the 1st quarter worth $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the 1st quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Chubb by 254.3% in the 4th 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 during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

NYSE CB traded up $0.35 during trading hours on Thursday, reaching $270.50. 2,120,924 shares of the stock traded hands, compared to its average volume of 2,013,099. The stock has a 50 day simple moving average of $285.03 and a two-hundred day simple moving average of $282.24. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.28. The company has a market cap of $108.40 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $5.38 earnings per share. On average, analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 17.12%.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CB. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research note on Tuesday, May 20th. Raymond James Financial restated a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. UBS Group boosted their price objective on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Finally, Wells Fargo & Company reduced their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Chubb has a consensus rating of "Moderate Buy" and an average target price of $302.47.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer owned 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is owned by company insiders.

Chubb Profile

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.