Wedmont Private Capital lifted its position in shares of Chubb Limited (NYSE: CB – Get Rating) by 74.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,785 shares of the financial services provider’s stock after buying an additional 760 shares during the period. Wedmont Private Capital’s holdings in Chubb were worth $ 381,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. increased its holdings in Chubb by 8.9% in the 3rd quarter. Center for Financial Planning Inc. now owns 1,878 shares of the financial services provider’s stock valued at $ 326,000 after purchasing an additional 153 shares in the last quarter. MML Investors Services LLC increased its holdings in Chubb by 3.4% in the 3rd quarter. MML Investors Services LLC now owns 24,254 shares of the financial services provider’s stock valued at $ 4,208,000 after purchasing an additional 800 shares in the last quarter. LPL Financial LLC increased its holdings in Chubb by 23.3% in the 3rd quarter. LPL Financial LLC now owns 117,989 shares of the financial services provider’s stock valued at $ 20,469,000 after purchasing an additional 22,306 shares in the last quarter. TownSquare Capital LLC increased its holdings in Chubb by 18.4% in the 3rd quarter. TownSquare Capital LLC now owns 5,083 shares of the financial services provider’s stock valued at $ 882,000 after purchasing an additional 791 shares in the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in Chubb in the 3rd quarter valued at $ 341,000. Institutional investors and hedge funds own 88.86% of the company stock.
In other Chubb news, Director Michael G. Atieh sold 500 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $ 203.49, for a total value of $ 101,745.00. Following the transaction, the director now owns 38,340 shares of the company stock, valued at $ 7,801,806.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore Shasta sold 812 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 209.18, for a total transaction of $ 169,854.16. Following the completion of the transaction, the director now directly owns 15,488 shares in the company, valued at approximately $ 3,239,779.84. The disclosure for this sale can be found here. Insiders sold 164,260 shares of company stock worth $ 34,398,073 in the last three months. 0.39% of the stock is currently owned by corporate insiders.
Several brokerages recently issued reports on CB. Barclays lowered their price target on Chubb from $ 250.00 to $ 249.00 and set an “overweight” rating for the company in a report on Friday, May 20th. Morgan Stanley lowered their price target on Chubb from $ 224.00 to $ 216.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Wells Fargo & Company increased their price target on Chubb from $ 230.00 to $ 240.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Raymond James increased their price target on Chubb from $ 240.00 to $ 250.00 in a report on Thursday, April 28th. Finally, StockNews.com initiated coverage on shares of Chubb in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $ 222.80.
Shares of CB stock opened at $ 189.34 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Limited has a one year low of $ 155.78 and a one year high of $ 218.99. The company 50-day simple moving average is $ 207.39 and its 200-day simple moving average is $ 203.28. The stock has a market capitalization of $ 80.23 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.27 and a beta of 0.73.
Chubb (NYSE: CB – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $ 3.82 EPS for the quarter, topping the consensus estimate of $ 3.48 by $ 0.34. Chubb had a net margin of 19.65% and a return on equity of 10.30%. During the same quarter in the previous year, the business earned $ 2.52 EPS. As a group, research analysts forecast that Chubb Limited will post 14.96 EPS for the current year.
Chubb declared that its Board of Directors has initiated a share buyback program on Thursday, May 19th that allows the company to repurchase $ 2.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be given a dividend of $ 0.83 per share. This is a boost from Chubb’s previous quarterly dividend of $ 0.80. The ex-dividend date is Thursday, June 16th. This represents a $ 3.32 annualized dividend and a dividend yield of 1.75%. Chubb’s dividend payout ratio (DPR) is presently 17.68%.
Chubb Profile: (Get Rating)
Chubb Limited provides insurance and reinsurance products worldwide. The company 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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