Chubb Limited (NYSE:CB) Shares Bought by Patron Partners LLC

Patron Partners LLC raised its position in Chubb Limited (NYSE:CB) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,851 shares of the financial services provider’s stock after buying an additional 255 shares during the quarter. Patron Partners LLC’s holdings in Chubb were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. California Public Employees Retirement System lifted its holdings in shares of Chubb by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC boosted its holdings in Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 2,340 shares in the last quarter. Vista Investment Partners II LLC acquired a new position in Chubb during the 4th quarter worth approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Chubb by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after buying an additional 366,559 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Chubb in the 4th quarter valued at approximately $1,158,897,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CB shares. Morgan Stanley upped their price objective on Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. UBS Group increased their price target on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price objective 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. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price target on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Activity at Chubb

In related news, COO John W. Keogh purchased 9,810 shares of the business’s stock in a transaction 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 approximately $72,526,158.62. This trade represents a 4.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.77% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $285.12 on Friday. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm has a market cap of $114.26 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 3.15 and a beta of 0.54. The company’s 50-day moving average is $287.84 and its two-hundred day moving average is $281.73. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced 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 the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. Research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase 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 approved a share buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Chubb

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.