Hi Line Capital Management LLC Acquires 634 Shares of Chubb Limited (NYSE:CB)

Hi Line Capital Management LLC lifted its holdings in Chubb Limited (NYSE:CB) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,302 shares of the financial services provider’s stock after buying an additional 634 shares during the quarter. Chubb comprises 3.3% of Hi Line Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Hi Line Capital Management LLC’s holdings in Chubb were worth $8,876,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Chubb during the fourth quarter valued at $205,000. Bank Pictet & Cie Europe AG bought a new position in Chubb in the fourth quarter valued at about $1,320,000. Howard Capital Management Inc. acquired a new stake in Chubb in the fourth quarter worth about $725,000. Finally, MONECO Advisors LLC raised its holdings in Chubb by 28.2% during the 4th quarter. MONECO Advisors LLC now owns 1,757 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 386 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Barclays reduced their price objective 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. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on Chubb from $280.00 to $300.00 and gave the stock 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 given 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, Chubb currently has an average rating of “Moderate Buy” and an average target price of $307.53.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh purchased 9,810 shares of Chubb stock in a transaction on Friday, June 6th. The stock was purchased at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the transaction, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. The trade was a 4.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of CB opened at $288.19 on Tuesday. The stock has a 50 day simple moving average of $287.88 and a 200 day simple moving average of $281.56. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $115.48 billion, a PE ratio of 13.87, a P/E/G ratio of 3.16 and a beta of 0.54.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. 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 a boost from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is 18.67%.

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is 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.