ZWJ Investment Counsel Inc. increased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,898 shares of the financial services provider's stock after purchasing an additional 4,114 shares during the quarter. Chubb accounts for about 2.3% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 13th largest holding. ZWJ Investment Counsel Inc.'s holdings in Chubb were worth $55,837,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CB. Brighton Jones LLC grew its position in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $205,000. Bank Pictet & Cie Europe AG acquired a new stake in Chubb in the fourth quarter valued at approximately $1,320,000. Norden Group LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $220,000. Finally, Modera Wealth Management LLC grew its position in Chubb by 17.0% in the fourth quarter. Modera Wealth Management LLC now owns 2,123 shares of the financial services provider's stock valued at $587,000 after acquiring an additional 308 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Barclays lowered their price objective on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their target price on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Chubb currently has an average rating of "Moderate Buy" and an average price target of $307.53.
Check Out Our Latest Analysis on Chubb
Chubb Stock Performance
CB traded up $1.91 during trading hours on Friday, hitting $281.99. 1,523,457 shares of the stock were exchanged, compared to its average volume of 1,639,089. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $113.00 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The stock has a 50-day simple moving average of $287.96 and a 200-day simple moving average of $282.02.
Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 1.38%. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio (DPR) is 18.67%.
Chubb declared that its Board of Directors has approved a share repurchase 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Insiders Place Their Bets
In other news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer directly owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock worth $29,163,135 over the last three months. Corporate insiders own 0.77% of the company's stock.
Chubb 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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