Castlekeep Investment Advisors LLC Takes $1.22 Million Position in Chubb Limited (NYSE:CB)

Castlekeep Investment Advisors LLC purchased a new position in shares of Chubb Limited (NYSE:CB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,414 shares of the financial services provider’s stock, valued at approximately $1,220,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rede Wealth LLC raised its position in Chubb by 2.0% in the fourth quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock worth $525,000 after acquiring an additional 37 shares in the last quarter. United Asset Strategies Inc. grew its stake in shares of Chubb by 1.3% in the 4th quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 40 shares during the last quarter. Avitas Wealth Management LLC grew its stake in shares of Chubb by 0.5% in the 4th quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 40 shares during the last quarter. Tandem Wealth Advisors LLC raised its holdings in shares of Chubb by 3.0% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 40 shares in the last quarter. Finally, Unison Advisors LLC lifted its stake in Chubb by 0.3% during the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CB. Morgan Stanley lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their target price on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a research report on Wednesday, March 5th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Chubb Price Performance

Shares of CB opened at $286.31 on Friday. The business’s 50-day moving average is $288.21 and its 200-day moving average is $281.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company has a market capitalization of $114.73 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 3.36 and a beta of 0.57. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities research analysts expect that Chubb Limited will post 21.52 EPS 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 issued a dividend of $0.97 per share. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, June 13th. Chubb’s payout ratio is currently 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 outstanding 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 generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,553 shares of company stock valued at $43,257,220. 0.77% of the stock is owned by insiders.

Chubb 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.