Chubb Limited (NYSE:CB) Holdings Boosted by Principal Securities Inc.

Principal Securities Inc. boosted its position in shares of Chubb Limited (NYSE:CB) by 0.4% during the 1st quarter, HoldingsChannel reports. The firm owned 13,925 shares of the financial services provider’s stock after buying an additional 61 shares during the quarter. Principal Securities Inc.’s holdings in Chubb were worth $3,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CB. Peoples Bank KS acquired a new stake in shares of Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb during the first quarter valued at $25,000. North Capital Inc. acquired a new stake in Chubb during the first quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in Chubb during the fourth quarter valued at $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted 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 valued at $34,000 after purchasing an additional 89 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CB. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Morgan Stanley lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Finally, 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Chubb presently has an average rating of “Moderate Buy” and an average price target of $306.00.

Chubb Stock Down 0.0%

Shares of CB opened at $279.86 on Wednesday. The company has a 50-day simple moving average of $287.80 and a 200-day simple moving average of $282.19. The firm has a market capitalization of $112.15 billion, a P/E ratio of 13.47, a P/E/G ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 52 week low of $251.42 and a 52 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 (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. 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 1.39%. The ex-dividend date was Friday, June 13th. Chubb’s dividend payout ratio is currently 18.67%.

Chubb announced that its board has authorized a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,390 shares of company stock worth $29,163,135. Corporate insiders own 0.86% of the company’s stock.

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.