Focus Financial Network Inc. Increases Stock Position in Chubb Limited (NYSE:CB)

Focus Financial Network Inc. grew its stake in shares of Chubb Limited (NYSE:CB) by 46.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,270 shares of the financial services provider’s stock after buying an additional 405 shares during the period. Focus Financial Network Inc.’s holdings in Chubb were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Peoples Bank KS bought a new position in shares of Chubb in the first quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Chubb in the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb in the 4th quarter worth approximately $29,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.9%

NYSE:CB opened at $286.59 on Friday. The company’s 50 day moving average price is $287.72 and its 200-day moving average price is $281.78. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. 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 stock has a market cap of $114.84 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. On average, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is 18.67%.

Chubb announced that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CB. Piper Sandler lifted their target price on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Wells Fargo & Company boosted their price target on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Raymond James reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 9,794 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer now owns 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This trade represents a 33.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,856 shares of company stock valued at $35,537,155. Company insiders own 0.77% of the company’s stock.

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.