Greenwood Capital Associates LLC Acquires 1,149 Shares of Chubb Limited (NYSE:CB)

Greenwood Capital Associates LLC grew its stake in Chubb Limited (NYSE:CB) by 9.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 12,910 shares of the financial services provider’s stock after buying an additional 1,149 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Chubb were worth $3,899,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CB. Peoples Bank KS acquired a new position in Chubb during the first quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Chubb during the 4th quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in Chubb in the 4th quarter valued at $29,000. Strategic Financial Concepts LLC bought a new position in Chubb in the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in 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 during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $285.54 on Thursday. The firm has a market capitalization of $114.42 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm has a 50-day moving average price of $287.17 and a 200 day moving average price of $281.77.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Chubb declared that its board has approved a share repurchase program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

CB has been the topic of several research analyst reports. UBS Group raised their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods cut their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group raised their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, Piper Sandler boosted their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the transaction, the executive vice president now owns 29,194 shares in the company, valued at approximately $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was 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 $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. In the last quarter, insiders have sold 122,619 shares of company stock worth $35,758,738. Corporate insiders own 0.77% of the company’s stock.

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.