Wealthcare Advisory Partners LLC Boosts Stake in Chubb Limited (NYSE:CB)

Wealthcare Advisory Partners LLC lifted its holdings in shares of Chubb Limited (NYSE:CB) by 4.2% in the first quarter, HoldingsChannel.com reports. The firm owned 6,561 shares of the financial services provider’s stock after acquiring an additional 265 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Chubb were worth $1,981,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CB. Demars Financial Group LLC lifted its position in Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after buying an additional 5,340,499 shares during the last quarter. Norges Bank acquired a new stake in shares of Chubb during the fourth quarter valued at about $1,169,720,000. Raymond James Financial Inc. acquired a new stake in shares of Chubb during the fourth quarter valued at about $1,158,897,000. GAMMA Investing LLC raised its stake in shares of Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock valued at $629,357,000 after acquiring an additional 2,078,390 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after acquiring an additional 1,403,545 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.2%

Shares of Chubb stock opened at $285.54 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $287.17 and a 200 day moving average of $281.77. The company has a market capitalization of $114.42 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.36 and a beta of 0.54. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. As a group, research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio is presently 18.67%.

Insider Buying and Selling

In related news, CAO George F. Ohsiek sold 763 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This trade represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,619 shares of company stock worth $35,758,738 in the last 90 days. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CB. Barclays dropped their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Piper Sandler increased their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Raymond James restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Finally, Morgan Stanley lifted their target price on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $307.53.

Chubb Company 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.