Perkins Coie Trust Co Acquires 101 Shares of Chubb Limited (NYSE:CB)

Perkins Coie Trust Co grew its stake in shares of Chubb Limited (NYSE:CB) by 0.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,599 shares of the financial services provider’s stock after purchasing an additional 101 shares during the quarter. Chubb accounts for 1.3% of Perkins Coie Trust Co’s holdings, making the stock its 22nd largest position. Perkins Coie Trust Co’s holdings in Chubb were worth $5,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CB. Vanguard Group Inc. grew its holdings in shares of Chubb by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock valued at $10,072,097,000 after purchasing an additional 271,648 shares in the last quarter. FMR LLC grew its holdings in shares of Chubb by 0.6% in the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock valued at $4,329,173,000 after purchasing an additional 91,892 shares in the last quarter. Capital World Investors grew its holdings in shares of Chubb by 1.9% in the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider’s stock valued at $3,172,194,000 after purchasing an additional 212,889 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Chubb by 1.5% in the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider’s stock valued at $2,457,402,000 after purchasing an additional 131,075 shares in the last quarter. Finally, Demars Financial Group LLC grew its holdings in shares of Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after purchasing an additional 5,340,499 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In related 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,553 shares of company stock worth $40,387,620 over the last three months. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Up 0.8%

NYSE:CB opened at $293.95 on Friday. Chubb Limited has a twelve month low of $251.42 and a twelve month high of $306.91. The company has a market cap of $117.79 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The stock has a fifty day simple moving average of $287.64 and a 200-day simple moving average of $281.72. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share 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 business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its board has approved a stock repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits 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.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, June 13th. Chubb’s payout ratio is presently 18.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CB shares. 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 report on Thursday, April 24th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a report on Wednesday, March 5th. Keefe, Bruyette & Woods cut their target price on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued 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.

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.