Chubb Limited (NYSE:CB) Shares Purchased by Community Bank N.A.

Community Bank N.A. grew its stake in shares of Chubb Limited (NYSE:CB) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,999 shares of the financial services provider’s stock after purchasing an additional 436 shares during the quarter. Community Bank N.A.’s holdings in Chubb were worth $4,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peoples Bank KS purchased a new stake in shares of Chubb during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb in the first quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $29,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Chubb during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 0.9%

Shares of Chubb stock opened at $283.87 on Wednesday. The business has a 50-day moving average price of $287.94 and a 200 day moving average price of $281.66. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The firm has a market cap of $113.76 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.19 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

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

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.37%. 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 payout ratio is currently 18.67%.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares in the company, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,108 shares of company stock worth $31,169,977 over the last 90 days. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CB. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research report on Wednesday, March 5th. UBS Group increased their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Finally, Piper Sandler raised their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, six 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.53.

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.