Chubb Limited (NYSE:CB) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its holdings in shares of Chubb Limited (NYSE:CB) by 55.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,855 shares of the financial services provider’s stock after acquiring an additional 1,736 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Chubb were worth $1,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in Chubb by 6.3% during the 1st quarter. Farther Finance Advisors LLC now owns 4,005 shares of the financial services provider’s stock worth $1,207,000 after acquiring an additional 239 shares during the period. City Holding Co. lifted its holdings in shares of Chubb by 98.0% in the first quarter. City Holding Co. now owns 196 shares of the financial services provider’s stock valued at $59,000 after buying an additional 97 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of Chubb by 18.9% in the first quarter. Portside Wealth Group LLC now owns 1,146 shares of the financial services provider’s stock valued at $346,000 after buying an additional 182 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Chubb by 17.0% in the first quarter. Moss Adams Wealth Advisors LLC now owns 1,102 shares of the financial services provider’s stock valued at $334,000 after buying an additional 160 shares during the period. Finally, Wesbanco Bank Inc. lifted its holdings in shares of Chubb by 1.0% in the first quarter. Wesbanco Bank Inc. now owns 18,002 shares of the financial services provider’s stock valued at $5,436,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Down 1.2%

Shares of Chubb stock opened at $286.25 on Wednesday. The stock has a 50-day moving average price of $287.07 and a 200 day moving average price of $281.75. The company has a market cap of $114.71 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.36 and a beta of 0.54. 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 1 year low of $251.42 and a 1 year high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data 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 the consensus estimate of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio is currently 18.67%.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CB shares. UBS Group upped their price objective on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their price objective on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Finally, Raymond James restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Chubb has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Insiders Place Their Bets

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was 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 now directly owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,619 shares of company stock valued at $35,758,738 in the last three months. Insiders own 0.77% of the company’s stock.

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.