Wesbanco Bank Inc. Buys 185 Shares of Chubb Limited (NYSE:CB)

Wesbanco Bank Inc. boosted its stake in shares of Chubb Limited (NYSE:CB) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,002 shares of the financial services provider’s stock after acquiring an additional 185 shares during the quarter. Wesbanco Bank Inc.’s holdings in Chubb were worth $5,436,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CB. Peoples Bank KS acquired a new position in Chubb during the 1st quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in Chubb during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb during the 4th quarter worth approximately $29,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb during the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB stock opened at $293.95 on Monday. The business’s 50 day simple moving average is $287.64 and its 200 day simple moving average is $281.68. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The stock has a market capitalization of $117.79 billion, a PE ratio of 12.94, a PEG ratio of 3.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $11.22 billion. As a group, research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its Board of Directors has authorized a share repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.32%. Chubb’s payout ratio is 18.67%.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,553 shares of company stock valued at $40,387,620. 0.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CB. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Barclays dropped their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Wells Fargo & Company boosted their price target on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Jefferies Financial Group lifted their target price on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb presently has an average rating of “Moderate Buy” and a consensus price target of $307.53.

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.