PDS Planning Inc Acquires 91 Shares of Chubb Limited (NYSE:CB)

PDS Planning Inc lifted its holdings in shares of Chubb Limited (NYSE:CB) by 3.7% in the first quarter, Holdings Channel.com reports. The fund owned 2,564 shares of the financial services provider’s stock after purchasing an additional 91 shares during the quarter. PDS Planning Inc’s holdings in Chubb were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank KS acquired a new stake in shares of Chubb during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the first quarter valued at approximately $25,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. Cherry Tree Wealth Management LLC raised its stake in shares of Chubb by 56.6% in the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake 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 valued at $34,000 after acquiring an additional 89 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

CB has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Barclays dropped their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Morgan Stanley boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, Piper Sandler boosted their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Two research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Chubb Trading Up 0.4%

CB opened at $283.94 on Friday. 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 company has a market cap of $113.78 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.15 and a beta of 0.54. The firm has a 50 day simple moving average of $287.84 and a 200 day simple moving average of $281.65. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 15.05% and a return on equity of 12.37%. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed 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 represents a $3.88 dividend on an annualized basis and a yield of 1.37%. This is a boost from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

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

Insider Activity at Chubb

In other news, COO John W. Keogh acquired 9,810 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the acquisition, the chief operating officer now 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 SEC, which is available at the SEC website. Corporate insiders own 0.77% of the company’s stock.

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.