Simplicity Wealth LLC acquired a new position in Chubb Limited (NYSE:CB – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 676 shares of the financial services provider’s stock, valued at approximately $204,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Sunflower Bank N.A. grew its stake in shares of Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 38 shares during the last quarter. Tandem Wealth Advisors LLC boosted its position in Chubb by 3.0% in the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock valued at $382,000 after buying an additional 40 shares in the last quarter. Unison Advisors LLC boosted its holdings in shares of Chubb by 0.3% in the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock worth $3,742,000 after acquiring an additional 41 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Chubb by 1.6% in the fourth quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 42 shares in the last quarter. Finally, Sage Mountain Advisors LLC lifted its position in shares of Chubb by 1.7% during the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider’s stock worth $682,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.
Chubb Price Performance
Chubb stock opened at $286.59 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $287.72 and its 200-day moving average is $281.78. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a market capitalization 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 Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.35%. Chubb’s dividend payout ratio (DPR) is currently 18.67%.
Chubb declared that its board has approved a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. UBS Group upped their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Wells Fargo & Company raised their price target on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Finally, HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $307.53.
Check Out Our Latest Report on CB
Insider Buying and Selling at Chubb
In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This trade represents a 33.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer now owns 237,728 shares in the company, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,856 shares of company stock valued at $35,537,155. 0.77% of the stock is currently owned by corporate insiders.
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.
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