GSB Wealth Management LLC Has $1.20 Million Holdings in Chubb Limited (NYSE:CB)

GSB Wealth Management LLC lifted its position in shares of Chubb Limited (NYSE:CB) by 13.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,976 shares of the financial services provider’s stock after purchasing an additional 478 shares during the period. GSB Wealth Management LLC’s holdings in Chubb were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CB. Peoples Bank KS bought a new stake in shares of Chubb during the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb during the first quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of Chubb during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb during the fourth quarter worth about $29,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Chubb during the fourth quarter worth about $30,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. This represents a 13.49% decrease in their position. 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 quarter. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Piper Sandler lifted their price objective on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Finally, HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Chubb has an average rating of “Moderate Buy” and an average target price of $307.53.

Chubb Stock Performance

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

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. The company 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 12.37% and a net margin of 15.05%. On average, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.37%. Chubb’s payout ratio is currently 18.67%.

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.