Wealth Effects LLC Has $371,000 Stock Holdings in Chubb Limited (NYSE:CB)

Wealth Effects LLC cut its holdings in Chubb Limited (NYSE:CB) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,230 shares of the financial services provider’s stock after selling 41 shares during the quarter. Wealth Effects LLC’s holdings in Chubb were worth $371,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank KS acquired a new stake in Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the first quarter valued at approximately $25,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. Cherry Tree Wealth Management LLC raised its position in shares of Chubb by 56.6% in the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 43 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 89 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh purchased 9,810 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the purchase, the chief operating officer now directly owns 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. This represents a 4.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Chubb Trading Down 1.4%

Shares of CB stock opened at $282.76 on Thursday. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The firm’s fifty day simple moving average is $287.87 and its 200 day simple moving average is $281.61. The firm has a market capitalization of $113.31 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. As a group, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has authorized a share 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 usually a sign that the company’s board of directors 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 dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.37%. This is an increase from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Analysts Set New Price Targets

CB has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. UBS Group lifted their price target on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target on the stock. in a research report on Tuesday, May 20th. Barclays dropped their price target on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler lifted their price target on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.