Chubb Limited (NYSE:CB) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its holdings in shares of Chubb Limited (NYSE:CB) by 3.3% in the first quarter, Holdings Channel reports. The institutional investor owned 43,280 shares of the financial services provider’s stock after purchasing an additional 1,375 shares during the period. First Horizon Advisors Inc.’s holdings in Chubb were worth $13,070,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Peoples Bank KS purchased a new stake in Chubb during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb during the first quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the 4th quarter worth approximately $29,000. Cherry Tree Wealth Management LLC boosted its holdings in shares of Chubb by 56.6% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock valued at $36,000 after buying an additional 43 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group boosted their price objective on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Barclays lowered their price target on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Morgan Stanley boosted their target price on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft downgraded Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $307.53.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.

Chubb Stock Down 3.4%

Shares of NYSE CB opened at $279.82 on Thursday. The firm’s 50-day moving average is $287.90 and its two-hundred day moving average is $281.94. The company has a market capitalization of $112.13 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 3.22 and a beta of 0.53. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (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 analyst estimates of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given 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 1.39%. The ex-dividend date is Friday, June 13th. Chubb’s dividend payout ratio is currently 18.67%.

Chubb announced that its board has initiated a stock buyback 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 often a sign that the company’s board of directors believes its shares are undervalued.

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.