MidFirst Bank acquired a new stake in shares of Chubb Limited (NYSE:CB – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,341 shares of the financial services provider’s stock, valued at approximately $731,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. DGS Capital Management LLC grew its stake in Chubb by 15.9% in the fourth quarter. DGS Capital Management LLC now owns 1,603 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 220 shares during the period. Pacer Advisors Inc. lifted its position in Chubb by 3.7% during the fourth quarter. Pacer Advisors Inc. now owns 39,525 shares of the financial services provider’s stock valued at $12,337,000 after buying an additional 1,400 shares during the period. Nolet Wealth Management LLC purchased a new position in Chubb during the fourth quarter valued at $336,000. Clear Retirement Advice LLC purchased a new position in Chubb during the fourth quarter valued at $216,000. Finally, Kera Capital Partners Inc. boosted its holdings in shares of Chubb by 2.4% during the 4th quarter. Kera Capital Partners Inc. now owns 1,696 shares of the financial services provider’s stock valued at $525,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Chubb Stock Performance
CB stock opened at $323.88 on Friday. The stock’s 50 day simple moving average is $324.70 and its 200 day simple moving average is $319.96. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The stock has a market capitalization of $125.62 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.41.
Chubb Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio is 14.41%.
Insiders Place Their Bets
In other Chubb news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.
Wall Street Analyst Weigh In
CB has been the topic of a number of recent research reports. HSBC upped their price objective on shares of Chubb from $362.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Evercore boosted their price target on Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Mizuho cut their price target on Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler raised their price objective on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $315.00 price objective on shares of Chubb in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $349.10.
Check Out Our Latest Research Report on Chubb
Chubb Profile
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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