Evergreen Wealth Management LLC Makes New $200,000 Investment in Chubb Limited (NYSE:CB)

Evergreen Wealth Management LLC bought a new position in shares of Chubb Limited (NYSE:CB) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 663 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in shares of Chubb by 1.1% during the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after acquiring an additional 14,610 shares in the last quarter. Canopy Partners LLC boosted its stake in shares of Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after acquiring an additional 2,340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Chubb by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after acquiring an additional 366,559 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Chubb by 9.1% during the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of a number of recent research reports. UBS Group upped their target price on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Morgan Stanley upped their target price on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Piper Sandler increased their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target on the stock. in a research note on Tuesday, May 20th. Finally, Jefferies Financial Group increased their price target on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and an average target price of $307.13.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 85,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer owned 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by company insiders.

Chubb Stock Up 0.5%

Shares of Chubb stock traded up $1.51 during trading hours on Friday, hitting $276.97. 452,698 shares of the company’s stock traded hands, compared to its average volume of 1,644,566. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $286.47 and a 200-day simple moving average of $282.21. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a market cap of $110.99 billion, a PE ratio of 13.32, a PEG ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Equities 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 was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

Chubb announced that its board has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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.