Chubb Limited (NYSE:CB) Shares Acquired by Firethorn Wealth Partners LLC

Firethorn Wealth Partners LLC grew its position in shares of Chubb Limited (NYSE:CB) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,493 shares of the financial services provider’s stock after purchasing an additional 92 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Chubb were worth $451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Peoples Bank KS purchased a new stake in Chubb in the 1st quarter valued at $25,000. Sierra Ocean LLC acquired a new position in Chubb in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb in the fourth quarter valued at about $29,000. Strategic Financial Concepts LLC purchased a new stake in Chubb during the 4th quarter valued at approximately $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 period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the 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 sale, the chief operating officer now directly owns 237,728 shares in the company, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the firm’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 transaction 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. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,553 shares of company stock valued at $40,387,620 in the last 90 days. 0.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CB. Raymond James reissued a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective on the stock. in a research report on Tuesday, May 20th. UBS Group upped their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Piper Sandler raised their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Finally, Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Chubb Trading Down 1.1%

Shares of Chubb stock opened at $296.68 on Wednesday. The company has a 50-day moving average of $288.10 and a two-hundred day moving average of $281.56. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $118.89 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57.

Chubb (NYSE:CB) last released 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. The business had revenue of $12.65 billion for 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%. On average, research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

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

Chubb Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

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.