DB Fitzpatrick & Co Inc Trims Holdings in Chubb Limited (NYSE:CB)

DB Fitzpatrick & Co Inc lessened its holdings in shares of Chubb Limited (NYSE:CB) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,841 shares of the financial services provider’s stock after selling 611 shares during the period. Chubb comprises approximately 1.4% of DB Fitzpatrick & Co Inc’s holdings, making the stock its 15th largest holding. DB Fitzpatrick & Co Inc’s holdings in Chubb were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Chubb by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock valued at $10,072,097,000 after purchasing an additional 271,648 shares during the period. FMR LLC increased its holdings in Chubb by 0.6% during the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock valued at $4,329,173,000 after purchasing an additional 91,892 shares during the period. Capital World Investors increased its holdings in Chubb by 1.9% during the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider’s stock valued at $3,172,194,000 after purchasing an additional 212,889 shares during the period. Capital Research Global Investors increased its holdings in Chubb by 1.5% during the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider’s stock valued at $2,457,402,000 after purchasing an additional 131,075 shares during the period. Finally, Demars Financial Group LLC increased its holdings in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Wells Fargo & Company upped their target price on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Finally, Barclays reduced their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $307.53.

Chubb Stock Performance

CB stock opened at $282.01 on Thursday. The stock has a market capitalization of $113.01 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 3.16 and a beta of 0.54. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $287.89 and its 200 day simple moving average is $281.66.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, research analysts forecast that Chubb Limited will post 21.52 earnings per share 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 given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.38%. Chubb’s dividend payout ratio is 18.67%.

Chubb declared that its board has authorized a stock repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh acquired 9,810 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average cost of $292.99 per share, with a total value of $2,874,231.90. Following the transaction, the chief operating officer now owns 247,538 shares of the company’s stock, valued at $72,526,158.62. The trade was a 4.13% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.

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.