Worth Financial Advisory Group LLC Lowers Holdings in Chubb Limited (NYSE:CB)

Worth Financial Advisory Group LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 44.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,862 shares of the financial services provider’s stock after selling 2,284 shares during the period. Worth Financial Advisory Group LLC’s holdings in Chubb were worth $864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CB. Peoples Bank KS purchased a new stake in shares of Chubb in the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb in the first quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb in the fourth quarter worth about $29,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb in the fourth quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Chubb by 254.3% in 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 in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In other news, COO John W. Keogh acquired 9,810 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the completion of the purchase, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Jefferies Financial Group boosted their target price on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. boosted their target price on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Chubb Trading Up 0.5%

Shares of NYSE CB opened at $283.61 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The business’s 50 day moving average price is $287.89 and its 200-day moving average price is $281.59. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The company has a market cap of $113.65 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.14 and a beta of 0.54.

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

Chubb declared that its Board of Directors has initiated a stock repurchase 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 typically an indication that the company’s leadership believes its shares are undervalued.

Chubb Increases Dividend

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

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.