NorthRock Partners LLC Raises Position in Chubb Limited (NYSE:CB)

NorthRock Partners LLC raised its stake in shares of Chubb Limited (NYSE:CB) by 145.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,055 shares of the financial services provider’s stock after purchasing an additional 1,808 shares during the quarter. NorthRock Partners LLC’s holdings in Chubb were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rede Wealth LLC raised its position in Chubb by 2.0% during the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 37 shares during the last quarter. United Asset Strategies Inc. raised its holdings in shares of Chubb by 1.3% during the fourth quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock valued at $851,000 after acquiring an additional 40 shares in the last quarter. Avitas Wealth Management LLC lifted its stake in Chubb by 0.5% in the fourth quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider’s stock worth $2,421,000 after acquiring an additional 40 shares during the period. Tandem Wealth Advisors LLC boosted its holdings in Chubb by 3.0% in the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 40 shares in the last quarter. Finally, Unison Advisors LLC increased its position in Chubb by 0.3% during the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after purchasing an additional 41 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. This represents 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 63,470 shares of company stock worth $18,562,730. 0.77% of the stock is owned by company insiders.

Chubb Stock Performance

CB stock opened at $292.02 on Friday. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The firm has a market cap of $117.02 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The firm has a 50-day simple moving average of $288.37 and a two-hundred day simple moving average of $280.64.

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

Chubb declared that its Board of Directors has approved a share repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is currently 17.52%.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. UBS Group increased their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group lifted their price target on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.86.

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.