Brighton Jones LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Brighton Jones LLC lifted its position in Chubb Limited (NYSE:CB) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,090 shares of the financial services provider’s stock after purchasing an additional 145 shares during the quarter. Brighton Jones LLC’s holdings in Chubb were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CB. Peoples Bank KS purchased a new position in shares of Chubb in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb during the 1st quarter valued at about $25,000. Sierra Ocean LLC purchased a new stake in Chubb during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in Chubb during the 4th quarter valued at about $29,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Chubb during the 4th quarter valued at about $30,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.2%

Shares of NYSE:CB opened at $286.20 on Tuesday. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91. The firm has a market capitalization of $114.69 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.36 and a beta of 0.54. The stock has a 50 day moving average price of $287.96 and a 200-day moving average price of $281.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (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 firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. As a group, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its board has authorized a stock repurchase 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 reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.36%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is currently 18.67%.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 12,231 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares in the company, valued at $23,120,374.04. This represents a 13.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,108 shares of company stock valued at $31,169,977. Corporate insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Jefferies Financial Group increased their target price on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company increased their target price on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Finally, Raymond James restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

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.