First County Bank CT Purchases 80 Shares of Chubb Limited (NYSE:CB)

First County Bank CT increased its holdings in Chubb Limited (NYSE:CB) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,730 shares of the financial services provider’s stock after acquiring an additional 80 shares during the quarter. First County Bank CT’s holdings in Chubb were worth $522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock valued at $629,357,000 after acquiring an additional 2,078,390 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Chubb by 2.9% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,614 shares of the financial services provider’s stock valued at $2,601,000 after purchasing an additional 246 shares in the last quarter. Exeter Financial LLC grew its stake in Chubb by 1.6% in the first quarter. Exeter Financial LLC now owns 5,853 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc raised its holdings in Chubb by 34.6% in the first quarter. Versant Capital Management Inc now owns 743 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 191 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA lifted its position in shares of Chubb by 1.7% during the first quarter. Lederer & Associates Investment Counsel CA now owns 7,570 shares of the financial services provider’s stock valued at $2,286,000 after buying an additional 128 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of Chubb in a research note on Thursday, January 30th. Raymond James reaffirmed a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Jefferies Financial Group raised their price objective on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Finally, Barclays decreased their price target on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, six have given 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, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $307.53.

Insider Buying and Selling

In related news, COO John W. Keogh sold 85,083 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer now directly owns 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction on Tuesday, March 4th. The shares were 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 directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. The trade was a 11.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,553 shares of company stock valued at $43,257,220 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $293.94 on Friday. The company has a 50 day simple moving average of $287.93 and a two-hundred day simple moving average of $281.32. The stock has a market cap of $117.79 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 3.36 and a beta of 0.57. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.

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

Chubb Increases Dividend

The business 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 annualized dividend and a yield of 1.32%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. Chubb’s dividend payout ratio (DPR) is 18.67%.

Chubb declared that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Chubb

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.