Hi Line Capital Management LLC Has $8.88 Million Stock Position in Chubb Limited (NYSE:CB)

Hi Line Capital Management LLC lifted its stake in shares of Chubb Limited (NYSE:CB) by 2.2% during the first quarter, HoldingsChannel reports. The firm owned 29,302 shares of the financial services provider’s stock after acquiring an additional 634 shares during the quarter. Chubb makes up 3.3% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Hi Line Capital Management LLC’s holdings in Chubb were worth $8,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in CB. Peoples Bank KS bought a new position in shares of Chubb in the first quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb in the 1st quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new position in Chubb in the 4th quarter valued at about $29,000. Kayne Anderson Rudnick Investment Management LLC lifted its position 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 acquiring an additional 89 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its position in Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Up 1.5%

NYSE CB opened at $288.19 on Tuesday. The business has a fifty day moving average price of $287.88 and a two-hundred day moving average price of $281.56. The stock has a market capitalization of $115.48 billion, a PE ratio of 13.87, a PEG ratio of 3.16 and a beta of 0.54. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings data 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. The business 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%. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.35%. Chubb’s payout ratio is 18.67%.

Insider Buying and Selling

In other news, COO John W. Keogh bought 9,810 shares of the company’s stock in a transaction on Friday, June 6th. The stock was purchased at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the transaction, the chief operating officer now owns 247,538 shares of the company’s stock, valued at $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CB has been the topic of several research reports. Jefferies Financial Group upped their target price on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. UBS Group upped their price target on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

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.