Marcum Wealth LLC trimmed its position in shares of Chubb Limited (NYSE:CB – Get Rating) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,688 shares of the financial services provider’s stock after selling 296 shares during the quarter. Marcum Wealth LLC’s holdings in Chubb were worth $789,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in Chubb by 4.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,535 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 108 shares during the period. Victory Capital Management Inc. boosted its holdings in Chubb by 71.5% during the 4th quarter. Victory Capital Management Inc. now owns 90,734 shares of the financial services provider’s stock valued at $17,540,000 after acquiring an additional 37,838 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Chubb in the 4th quarter valued at about $41,798,000. Diligent Investors LLC purchased a new position in shares of Chubb in the 4th quarter valued at about $233,000. Finally, United Asset Strategies Inc. purchased a new position in shares of Chubb in the 4th quarter valued at about $403,000. Institutional investors own 88.86% of the company’s stock.
NYSE:CB opened at $196.58 on Friday. The firm has a market cap of $83.29 billion, a P/E ratio of 10.47, a PEG ratio of 1.30 and a beta of 0.73. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $203.78 and its 200-day simple moving average is $203.31. Chubb Limited has a 12-month low of $157.19 and a 12-month high of $218.99.
Chubb (NYSE:CB – Get Rating) last released its earnings results on Tuesday, April 26th. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.30. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.95 billion. Chubb had a return on equity of 10.30% and a net margin of 19.65%. During the same quarter in the previous year, the company posted $2.52 earnings per share. Research analysts forecast that Chubb Limited will post 14.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 17th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, June 16th. This is a positive change from Chubb’s previous quarterly dividend of $0.80. Chubb’s dividend payout ratio is currently 17.68%.
Chubb announced that its board has approved a share buyback program on Thursday, May 19th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several equity analysts have recently issued reports on the company. Citigroup assumed coverage on Chubb in a research note on Monday, May 23rd. They issued a “neutral” rating and a $209.00 price objective for the company. Royal Bank of Canada lifted their price objective on Chubb from $230.00 to $239.00 and gave the company an “outperform” rating in a research note on Monday, April 4th. Barclays decreased their target price on Chubb from $250.00 to $249.00 and set an “overweight” rating for the company in a research note on Friday, May 20th. Morgan Stanley decreased their target price on Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Finally, StockNews.com started coverage on Chubb in a research note on Thursday, March 31st. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.14.
In related news, insider John J. Lupica sold 12,004 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $205.41, for a total transaction of $2,465,741.64. Following the transaction, the insider now owns 151,093 shares of the company’s stock, valued at $31,036,013.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 48,010 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $208.44, for a total value of $10,007,204.40. Following the sale, the chief executive officer now owns 673,397 shares in the company, valued at $140,362,870.68. The disclosure for this sale can be found here. Insiders have sold 141,824 shares of company stock worth $29,574,333 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.
Chubb Profile: (Get Rating)
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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