Private Advisor Group LLC purchased a new position in shares of Chubb Limited (NYSE:CB – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,501 shares of the financial services provider’s stock, valued at approximately $1,651,000.
Several other large investors also recently modified their holdings of CB. Guardian Wealth Advisors LLC purchased a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new position in Chubb in the 4th quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC purchased a new position in Chubb in the 4th quarter valued at approximately $27,000. Hollencrest Capital Management purchased a new position in Chubb in the 4th quarter valued at approximately $30,000. Finally, Altshuler Shaham Ltd purchased a new position in Chubb in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.
Insiders Place Their Bets
In other Chubb news, EVP Timothy Alan Boroughs sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $205.41, for a total value of $308,115.00. Following the completion of the sale, the executive vice president now directly owns 2,335 shares of the company’s stock, valued at $479,632.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 1,187 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $211.81, for a total value of $251,418.47. Following the transaction, the chief accounting officer now owns 13,234 shares in the company, valued at $2,803,093.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $205.41, for a total transaction of $308,115.00. Following the completion of the transaction, the executive vice president now owns 2,335 shares in the company, valued at approximately $479,632.35. The disclosure for this sale can be found here. Insiders sold 12,534 shares of company stock valued at $2,635,175 over the last three months. Insiders own 0.37% of the company’s stock.
Chubb Stock Performance
Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.51. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $11.24 billion. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.20 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 18.18 EPS for the current fiscal year.
Chubb declared that its Board of Directors has initiated a stock repurchase plan on Monday, June 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 14th. Chubb’s dividend payout ratio is presently 24.71%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on CB shares. BMO Capital Markets lifted their price objective on shares of Chubb from $200.00 to $210.00 in a research note on Thursday, July 27th. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Chubb in a research note on Wednesday, July 26th. Citigroup raised their price target on shares of Chubb from $229.00 to $235.00 in a report on Thursday, July 27th. StockNews.com assumed coverage on shares of Chubb in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Morgan Stanley raised their price target on shares of Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.79.
Read Our Latest Stock Analysis on CB
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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