222,996 Shares in Chubb Limited (NYSE:CB) Purchased by Prana Capital Management LP

Prana Capital Management LP bought a new stake in Chubb Limited (NYSE:CB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 222,996 shares of the financial services provider's stock, valued at approximately $61,614,000. Chubb comprises approximately 2.9% of Prana Capital Management LP's investment portfolio, making the stock its 9th biggest position. Prana Capital Management LP owned 0.06% of Chubb as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in Chubb during the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new position in Chubb in the fourth quarter worth approximately $29,000. Strategic Financial Concepts LLC bought a new position in Chubb in the fourth quarter worth approximately $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Human Investing LLC bought a new position in Chubb in the fourth quarter worth approximately $36,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Joseph F. Wayland sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. The trade was a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares of the company's stock, valued at approximately $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,470 shares of company stock worth $18,562,730. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Performance

NYSE:CB traded up $2.14 during trading hours on Friday, reaching $294.19. The stock had a trading volume of 1,402,309 shares, compared to its average volume of 1,614,250. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a 50 day simple moving average of $288.43 and a 200 day simple moving average of $280.67. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The stock has a market cap of $117.89 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 13.75% and a net margin of 16.63%. On average, research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb declared that its board has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.32%. Chubb's payout ratio is 17.52%.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. JMP Securities reiterated a "market outperform" rating and issued a $325.00 price target on shares of Chubb in a report on Wednesday, January 29th. Barclays cut their price target on Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods cut their price target on Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Finally, Piper Sandler increased their price target on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Chubb currently has an average rating of "Moderate Buy" and an average price target of $307.86.

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.