McElhenny Sheffield Capital Management LLC Invests $566,000 in Chubb Limited (NYSE:CB)

McElhenny Sheffield Capital Management LLC bought a new stake in Chubb Limited (NYSE:CB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,875 shares of the financial services provider’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS bought a new stake in shares of Chubb during the first quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in Chubb in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Chubb during the 4th quarter valued at $29,000. Strategic Financial Concepts LLC bought a new stake in Chubb during the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after buying an additional 89 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CB shares. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. UBS Group lifted their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective for the company. in a report on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Finally, Hsbc Global Res upgraded 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 given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Chubb Trading Down 0.2%

Shares of Chubb stock opened at $285.54 on Thursday. The firm has a market cap of $114.42 billion, a PE ratio of 12.57, a P/E/G ratio of 3.36 and a beta of 0.54. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The stock has a fifty day moving average price of $287.17 and a 200-day moving average price of $281.77.

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

Chubb Increases Dividend

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

Chubb announced that its board has initiated a stock repurchase plan 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Chubb

In other news, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 85,083 shares of Chubb 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 sale, the chief operating officer now directly owns 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,619 shares of company stock worth $35,758,738 in the last quarter. 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.