Silvercrest Asset Management Group LLC Raises Position in Chubb Limited (NYSE:CB)

Silvercrest Asset Management Group LLC raised its holdings in shares of Chubb Limited (NYSE:CB) by 981.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,360 shares of the financial services provider’s stock after acquiring an additional 23,923 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Chubb were worth $7,283,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after buying an additional 1,403,545 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Chubb by 3.9% during the 4th quarter. Rafferty Asset Management LLC now owns 132,265 shares of the financial services provider’s stock worth $36,545,000 after acquiring an additional 4,936 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Chubb during the 4th quarter worth $1,417,000. Point72 Europe London LLP purchased a new position in Chubb in the fourth quarter worth $2,017,000. Finally, Prana Capital Management LP bought a new position in Chubb in the fourth quarter valued at $61,614,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of NYSE:CB opened at $294.19 on Monday. 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 company has a 50-day moving average price of $288.43 and a 200-day moving average price of $280.66. The company has a market cap of $117.89 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. As a group, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is currently 17.52%.

Chubb announced that its board has authorized a share buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CB has been the subject of several research analyst reports. Jefferies Financial Group lifted 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. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research report on Wednesday, March 5th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $307.86.

Insider Activity at Chubb

In related news, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,470 shares of company stock worth $18,562,730 over the last quarter. Corporate insiders own 0.77% of the company’s stock.

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.