Connective Portfolio Management LLC Makes New $790,000 Investment in Chubb Limited (NYSE:CB)

Connective Portfolio Management LLC purchased a new position in shares of Chubb Limited (NYSE:CB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,615 shares of the financial services provider’s stock, valued at approximately $790,000. Chubb makes up about 2.7% of Connective Portfolio Management LLC’s portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in shares of Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock valued at $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC raised its position in shares of Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC bought a new position in shares of Chubb in the fourth quarter valued at about $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Chubb by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock valued at $760,853,000 after purchasing an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Chubb in the fourth quarter valued at about $1,158,897,000. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CB. Jefferies Financial Group increased their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Barclays decreased their price target on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Morgan Stanley upped their price target on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.53.

Insider Activity

In other Chubb news, COO John W. Keogh acquired 9,810 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the acquisition, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. This represents a 4.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Chubb Trading Up 0.5%

Shares of Chubb stock opened at $283.61 on Friday. The company has a market capitalization of $113.65 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.14 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm’s 50-day moving average price is $287.89 and its two-hundred day moving average price is $281.59.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Chubb declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About Chubb

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.